https://www.taxtmi.com/caselaws?id=266910 Section 194LA of the Income-tax Act, 1961 applies only when compensation or consideration is paid in money on account of compulsory acquisition of immovable property. Where land is voluntarily surrendered under Section 14B of the Karnataka Town and Country Planning Act, 1961 and the municipal authority issues Development Rights Certificates without any cash or other monetary payment, tax deduction at source is not attracted. The statutory deduction mechanism depends on a monetary outflow, and a non-monetary exchange of development rights certificates does not constitute payment for this purpose. The tax-deduction obligation, being vicarious in nature, cannot arise in the absence of a quantifiable monetary sum. en-us Tue, 29 Sep 2015 00:00:00 +0530 Tue, 27 Oct 2015 08:27:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266910 Section 194LA of the Income-tax Act, 1961 applies only when compensation or consideration is paid in money on account of compulsory acquisition of immovable property. Where land is voluntarily surrendered under Section 14B of the Karnataka Town and Country Planning Act, 1961 and the municipal authority issues Development Rights Certificates without any cash or other monetary payment, tax deduction at source is not attracted. The statutory deduction mechanism depends on a monetary outflow, and a non-monetary exchange of development rights certificates does not constitute payment for this purpose. The tax-deduction obligation, being vicarious in nature, cannot arise in the absence of a quantifiable monetary sum. Case-Laws Income Tax Tue, 29 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266910