https://www.taxtmi.com/caselaws?id=236876 A lump-sum lease premium paid for acquiring leasehold rights and additional development entitlement was treated as consideration for acquisition of capital rights, not as a periodic payment for use of land or building. On that basis, it did not fall within the statutory definition of rent under section 194-I of the Income-tax Act and no tax deduction at source was required. Consequently, the payer could not be treated as an assessee in default under sections 201(1) and 201(1A). en-us Wed, 14 Aug 2013 00:00:00 +0530 Thu, 31 Mar 2016 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236876 A lump-sum lease premium paid for acquiring leasehold rights and additional development entitlement was treated as consideration for acquisition of capital rights, not as a periodic payment for use of land or building. On that basis, it did not fall within the statutory definition of rent under section 194-I of the Income-tax Act and no tax deduction at source was required. Consequently, the payer could not be treated as an assessee in default under sections 201(1) and 201(1A). Case-Laws Income Tax Wed, 14 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236876