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2016 (6) TMI 498 - AT - Income TaxTDS u/s 194I - non deduction of tax at source from the lease premium paid to PCNTDA for acquisition of Lease hold rights for 99 years - assessee in default - Held that:- We find in appeal the Ld.CIT(A) following various decisions of the Mumbai Bench of the Tribunal deleted such demand raised by the AO u/s.201(1)/201(1A). We find identical issue had come up before the Coordinate Bench of the Tribunal in the case of Shri Ajay N. Yerwadekar (2015 (11) TMI 1382 - ITAT PUNE) wherein held Where the lease premium paid to PCNTDA was a pre-condition for entering into the lease agreement, the same not being paid consequent to the execution of the lease agreement, cannot be said to be payment in lieu of rent as envisaged under section 194 I. The Tribunal after considering various decisions upheld the order of the CIT(A) and dismissed the appeal filed by the Revenue in respect of lease premium paid to PCNTDA. - Decided in favour of assessee
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