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TMI Blog2015 (2) TMI 1230X X X X Extracts X X X X X X X X Extracts X X X X ..... nvolved in the appeal is relating to non-deduction of TDS under section 201(1)/201(1A), on the ground that the assessee has not complied with the provisions of section 194-I. 3. The brief facts of the case are that the assessee company is engaged in the business of real estate development and leasing. A survey operation under section 133A of the I.T. Act was carried out by Addl. CIT (TDS) in the case of Mumbai Metropolitan Regional Development Authority (MMRDA) on 09.02.2011 to ascertain the TDS compliance of MMRDA. During the survey it was found that the assessee had made payment amounting to Rs. 3,58,39,905/- on 24.12.2009 and Rs. 7,28,87,534/- on 31.12.2009- towards lease premium and fees for additional FSI to the MMRDA, in respect of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sidered by me. It is seen that the facts in the case of the appellant are similar to the facts in the case of Shree Naman Developers Ltd and other cases cited in Para 4.6 above. Hence, it is evident that premium of Rs. 10,87,27,439/- in respect of the leased plot, paid by the appellant for allotment of additional built up area and allotment of staircase, lift, lobbies etc. counted free of FSI is not in the nature of rent as contemplated u/s 194-I of the Act. It is thus also evident that the Appellant was not required to deduct tax at source u/s 194-I of the Income-tax Act, 1961. I hold accordingly. The demands of Rs. 1,37,74,679/- raised by the AO by invoking the provisions of section 201(1)/201(1A) is deleted." 6. The Revenue has thus com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of premium on account of additional FSI cannot be treated as rent as stipulated under section 194-I and, hence, no TDS was required to be deducted. Consequently, interest under section 201(1)/201(1A) cannot be levied. 8. In the result, Revenue's appeal is treated as dismissed." 8. From the above, we find that the Tribunal has taken the view in favour of assessee following the series of decisions of the Tribunal on this issue. The Ld. D.R. could not bring, before us, any new fact or case law which may justify departure from the view taken by the Tribunal in the above referred cases. Hence, respectfully following the decision on the issue given by the Tribunal in numerous cases, the issues under consideration is decided in favour o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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