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TMI Blog2021 (9) TMI 796X X X X Extracts X X X X X X X X Extracts X X X X ..... e being the amount paid as advance for acquisition of a capital asset. Further, we also find that the provision of Section 56(2)(viib) would not be attracted even remotely in this case. The order of the ld. CIT (A) is affirmed. Appeal of the revenue is dismissed. - ITA No. 6401/Del/2018 (Asstt. Year: 2014-15) - - - Dated:- 24-8-2021 - Sh. Kul Bharat, Judicial Member And Dr. B. R. R. Kumar, Accountant Member Assessee by: Sh. Ved Jain, CA Revenue by: Ms. Nidhi Srivastava, CIT DR ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeal has been filed by the revenue against the order of ld. CIT(A)-2, New Delhi dated 27.06.2018. 2. Following grounds have been raised by the revenue: 1. Whether on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land), shall, at the time of credit of such sum to the account of the transferor or at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to one per cent of such sum as income-tax thereon. (2) No deduction under sub-section (1) shall be made where the consideration for the transfer of an immovable property is less than fifty lakh rupees. (3) The provisions of section 203A shall not apply to a person required to deduct tax in accordance with the provisions of this section. Explanation.- For the purposes of this section,- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Explanation.-For the purposes of this sub-clause,- (i) commission or brokerage shall have the same meaning as in clause (i) of the Explanation to section 194H; (ii) fees for technical services shall have the same meaning as in Explanation 2 to clause (vi i) of sub-section (1) of section 9; (iii) professional services shall have the same meaning as in clause (a) of the Explanation to section 194J; (iv) work shall have the same meaning as in Explanation III to section 194C; (v) rent shall have the same meaning as in clause (i) to the Explanation to section 194-I; (vi) royalty shall have the same meaning as in Explanation 2 to clause (vi) of sub-section (1) of section 9; 7. In nutshell, the AO dis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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