https://www.taxtmi.com/caselaws?id=255116 Lease premium and additional FSI charges paid to a development authority for leasehold land were treated as consideration for acquisition of capital rights, not as rent. The decisive test was the real nature of the transaction: the payments secured long-term leasehold and developmental rights, were aligned with the stamp duty ready reckoner value, and were not ordinary recurring payments for mere use of land. The restrictive lease clauses were regarded as regulatory only and did not change the capital character of the payments. On that basis, the sums were not subject to tax deduction at source under section 194-I, and the related demand under sections 201(1) and 201(1A) was unsustainable. en-us Wed, 03 Dec 2014 00:00:00 +0530 Wed, 07 Jan 2015 20:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255116 Lease premium and additional FSI charges paid to a development authority for leasehold land were treated as consideration for acquisition of capital rights, not as rent. The decisive test was the real nature of the transaction: the payments secured long-term leasehold and developmental rights, were aligned with the stamp duty ready reckoner value, and were not ordinary recurring payments for mere use of land. The restrictive lease clauses were regarded as regulatory only and did not change the capital character of the payments. On that basis, the sums were not subject to tax deduction at source under section 194-I, and the related demand under sections 201(1) and 201(1A) was unsustainable. Case-Laws Income Tax Wed, 03 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255116