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CIT Versus FINIAN ESTATES DEVELOPERS PVT LTD AND FIRST INDIA ESTATE & SERVICE PVT LTD

2015 (11) TMI 999 - DELHI HIGH COURT

Transfer of development rights - receipt of advance - whether could be treated as sale consideration in the circumstances of the case? - Held that:- In the instant case, since no sale occurred, no income can be said to have accrued to the assessee.Th .....

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given that such advances were not towards any income that the assessee was entitled to receive in the two assessment years. See CIT(a) v/s DLF Commercial Project Corporation [2015 (7) TMI 576 - DELHI HIGH COURT] - Decided against revenue.

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behalf of the assessee. Further, it is also not disputed that the assessee deducted TDS on the service charge paid by it to M/s DLF Land Ltd. on the reimbursement expenses. In such circumstances, this Court holds that the entire amount paid by the a .....

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"income". The law thus obliges only amounts which fulfil the character of "income" to be subject to TDS in such cases; for other payments towards expenses, the deduction to those entitled (to be made by the payeee) the obligation to carry out TDS is .....

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