| |
The Tax PublishersITA No. 116/Del/2017, C.O. No. 86/Del/2017
2021 TaxPub(DT) 0407 (Del-Trib)INCOME TAX ACT, 1961
Section 201(1)/(1A) Section 194-I
Lease premium paid by assessee to Mumbai Metropolitan Regional Development Authority did not constitute advance rent, but it was a lease premium for acquiring land with right to construct a commercial building although with certain restrictions, but it was a capital expenditure not falling within the ambit of section 194-I. Accordingly, assessee could not be saddled with liability under section 201(1)/(1A).
|
Tax deduction at source - Assessee-in-default - Non-deduction of tax under section 194-I from lease premium to Mumbai Metropolitan Regional Development Authority -
Assessee paid lease premium to Mumbai Metropolitan Regional Development Authority. AO held assessee liable under section 201(1)/(1A) for non-deduction of tax under section 194-I. Held: Impugned deposit of lease premium did not constitute advance rent but it was a lease premium for acquiring land with right to construct a commercial building, although with certain restrictions, but it was a capital expenditure not falling within the ambit of section 194-I. Accordingly, assessee could not be saddled with liability under section 201(1)/(1A).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
 SUBSCRIBE FOR FULL CONTENT
|