https://www.taxtmi.com/caselaws?id=328980 Lump-sum lease premium paid for acquiring long-term leasehold rights in land was treated as consideration for transfer of an interest in property, not as rent. Applying the distinction between premium and rent under section 105 of the Transfer of Property Act and prior coordinate bench rulings, the Tribunal held that such payment falls outside section 194I of the Income-tax Act. As no tax deduction at source was required, the default provisions under sections 201(1) and 201(1A) did not apply, and the Revenue's appeal was rejected. en-us Thu, 16 Jun 2016 00:00:00 +0530 Mon, 20 Jun 2016 12:58:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328980 Lump-sum lease premium paid for acquiring long-term leasehold rights in land was treated as consideration for transfer of an interest in property, not as rent. Applying the distinction between premium and rent under section 105 of the Transfer of Property Act and prior coordinate bench rulings, the Tribunal held that such payment falls outside section 194I of the Income-tax Act. As no tax deduction at source was required, the default provisions under sections 201(1) and 201(1A) did not apply, and the Revenue's appeal was rejected. Case-Laws Income Tax Thu, 16 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328980