9911796707
TMI Blog2023 (7) TMI 1044X X X X Extracts X X X X X X X X Extracts X X X X ..... hat threshold limit for TDS is Rs. 50,00,000/- and no TDS is required to be deducted. The observation of the CIT(A) that the assessee has not filed Form No. 26A alongwith certificate of the Chartered Accountant appears to be correct and thus, the assessee has not fulfilled the condition of Section 201 - In respect of interest liability under Section 201(1A) the said interest was rightly calculated by the Assessing Officer and there is not need to interfere with the same. A.R. submitted that in case of wife of the assessee the CIT(A) has calculated the interest charged under Section 201(1A) at Rs. 7,843/- on the identical facts and therefore, in the present case also the Revenue is directed to calculate the same. Thus, Ground Nos. 1 2 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Ltd. (supra), deleted the demand under S.64,666 may be deleted in the interest of justice. 3. That your appellant reserve right to amend/ alter/ modify any ground or grounds during the pendency of the appeal. 3. The assessee has also filed the additional grounds of appeal:- That under the facts and circumstances, the provisions of deduction of TDS @1% u/s.194IA are not applicable qua assessee as the purchase consideration qua assessee is less than Rs. 50 Lakhs as under to different sellers 1 Smt. Vanitaben Ashokbhai Farkiwala 1866667 2 Shro. Ashokbhai Chimanlal Farkiwala 2083333 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est of justice. 4. As per the information available with the Revenue office the assessee alongwith his wife Kanchanben B Patel purchases a property for total consideration of Rs. 1,25,00,001/-. The Assessing Officer observed that the assessee failed to deduct TDS on the above transaction as per the provision of Section 194IA of the Act at 1%. As per the provision of Section 194IA if any person, being a transferee, responsible for paying to a 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 transfer or at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A) and confirmed the demand of Rs. 64,666/- under Section 201(1A) whereas the identical fact of the assessee s wife s case. The Ld. CIT(A) relied on the decision of Hindustan Coca Cola Beverage Pvt. Ltd. (supra), deleted the demand under Section 201(1) of the Act. 7. The Ld. D.R. submitted the CIT(A) rightly directed the Assessing Officer to verify From 26A alongwith certificate of Chartered Accountant. But the same was not available and therefore, has rightly made observation and directed the assessee to furnish the mandatory Form No. 26A alongwith the certificate of three sellers / co-owners alongwith computation of total income depicting in their total income before the Assessing Officer. As regards, the interest under Section 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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