TMI Blog2008 (8) TMI 491X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant. JUDGMENT The judgment of the court was delivered by 1. K. S. CHAUDHARI J. - Both these appeals arise out of the consolidated order of the Income-tax Appellate Tribunal dated August 29, 2003, by which appeals of the assessee-respondent were accepted, and demand raised for the financial years 2001-02 and 2002-03 by the Assessing Officer in respect of interest paid on TDR!STDR and rent paid, were set aside. 2. Since the questions involved in these appeals are the same and they pertain to the very same assessee but for different financial years, these appeals are being decided by this common order. 3. Survey was conducted at the business premises of assessee-respondent on March 5, 2002, and it was noticed that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ard learned counsel for the parties and perused the record. 6. Learned counsel for the appellant submitted that interest paid on TDR/ STDR does not fall under section 10(15) (iv) (fa) of the Income-tax Act, hence deduction was not admissible, and the learned Income-tax Appellate Tribunal has committed error in accepting the appeals on this ground. He further submitted that rent was payable for office building to the co sharers, whose shares were not definite and ascertainable, hence TDS was to be deducted on payment of rent, and the learned Income-tax Appellate Tribunal has committed error in accepting appeals. 7. On the other hand, learned counsel for the respondent-assessee has supported the order of the learned Income-tax Appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal has elaborately discussed this issue in its order and has rightly held that the provisions of section 10(4) (ii) are not applicable to the present case, and as such, we find no error in the order of the learned Income-tax Appellate Tribunal on this count and thus, question No. 1 is answered in favour of assessee-respondent. 10. As far as deduction of TDS on rent is concerned, the orders of the Corn- missioner of Income-tax (Appeals) and learned Income-tax Appellate Tribunal, make it clear that the property was of the late Smt. Tej Roop Kumari, who created registered trust in her lifetime on October 10, 1990, according to which, her three sons and one grandson became absolute owners of the property in definite shares. Learned cou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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