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The HC granted interim relief to the assessee, staying the operation of the impugned order under sections 201 and 201(1A) of the Income Tax Act, 1961. The court found prima facie that sections 194C and 194LA do not mandate TDS deduction when payment is made by issuing TDR certificates in lieu of compensation for land acquisition, interpreting the phrase "or by any other mode" ejusdem generis with "cash or cheque or draft." The absence of provisions analogous to sections 194B and 194R in sections 194C and 194LA supports the conclusion that TDS deduction is not applicable on TDR issuance. Consequently, the assessee established a strong prima facie case warranting the interim stay pending final adjudication.
The HC granted interim relief to the assessee, staying the operation of the impugned order under sections 201 and 201(1A) of the Income Tax Act, 1961. The court found prima facie that sections 194C and 194LA do not mandate TDS deduction when payment is made by issuing TDR certificates in lieu of compensation for land acquisition, interpreting the phrase "or by any other mode" ejusdem generis with "cash or cheque or draft." The absence of provisions analogous to sections 194B and 194R in sections 194C and 194LA supports the conclusion that TDS deduction is not applicable on TDR issuance. Consequently, the assessee established a strong prima facie case warranting the interim stay pending final adjudication.
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