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TMI Blog2015 (2) TMI 1231X X X X Extracts X X X X X X X X Extracts X X X X ..... se (k), which in the relevant assessment year was not in the statute, which came in only via the Finance Act, 2007, w.e.f. 01.06.2007. Hence the rigors of section 194C did not attract. We, therefore, set aside the order of the CIT(A) on this issue and direct the AO to delete the disallowance made u/s 40(i)(ia) of the Act. - Decided in favour of assessee. - ITA No. 1643/Mum/2011 - - - Dated:- 6 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as per clause 8(b) of Project Development Agreement, Godrej Properties Ltd. shall be paid by way of fees, an amount equal to 25% of the net realization in each project. 4. As a result, the assessee paid to GPL ₹ 1,81,29,209/- without deducting TAS by debiting the same as Develop Manager fee. The AO called for an explanation as to why the amount should not be disallowed u/s 40(a)(ia). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act. In terms of the arrangement, the appellant was the 'contractor' and M/s GPIL was the resident to whom payment was being made on which tax was to be deducted at source, and M/s GPIL is definitely included in the persons listed at (a) to (j) of section 194C(1). As per law applicable for assessment year 2006-07, while an individual or an HUF was not required to deduct tax at source un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee placed the copy of the agreement entered into by the assessee and GPL and submitted that the issue is covered by the proviso to section 194C(1), where the legislature in the relevant period had exempted the payment made by the individual or HUF. 9. The AR, therefore, submitted that when the expense as such had been held to be genuine, disallowance cannot be made on a technical gro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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