https://www.taxtmi.com/caselaws?id=345317 The Court ruled in favor of the Revenue regarding the nature of payment, determining it as rent under Section 194-I of the Income Tax Act. The Court directed the Assessing Officer to calculate interest liability as per the Supreme Court's decision and CBDT circular. On the penalty issue, the Court sided with the Assessee, upholding the deletion of the penalty under Section 271C due to reasonable grounds for not deducting tax at source. en-us Tue, 04 Jul 2017 00:00:00 +0530 Tue, 26 Sep 2017 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345317 The Court ruled in favor of the Revenue regarding the nature of payment, determining it as rent under Section 194-I of the Income Tax Act. The Court directed the Assessing Officer to calculate interest liability as per the Supreme Court's decision and CBDT circular. On the penalty issue, the Court sided with the Assessee, upholding the deletion of the penalty under Section 271C due to reasonable grounds for not deducting tax at source. Case-Laws Income Tax Tue, 04 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345317