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2015 (11) TMI 1377 - AT - Income TaxTDS u/s 194I - amount paid by the assessee bank (the lessee) to City Industrial Development Corporation (MMRDA) (Lessor) - whether not in the nature of rent ? - Held that:- The provisions of section 194-I are not applicable to the facts of the present appeal to deduct TDS on the lease premium paid by the assessee. The payment to MMRDA is for additional built up area and also for granting fee of FSI and such payments cannot be equated to rent, thus, we find no infirmity in the impugned orders thus, the addition made u/s 201(1) and 201(1A) of the Act was rightly deleted. We affirm the stand of the ld. Commissioner of Income Tax (Appeals) as no infirmity is found therein. - Decided against revenue.
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