https://www.taxtmi.com/caselaws?id=357635 Lease premium paid for acquiring leasehold rights was treated as capital expenditure and not as rent for TDS purposes under section 194I. The Tribunal, relying on prior judicial rulings, rejected the revenue's attempt to characterise the premium as advance rent and held that the payment was made to secure substantial rights in land, not for use of property as recurring rent. On that basis, the Tribunal also found no failure to deduct TDS under section 194I on the lease premium, and upheld the First Appellate Authority's view in favour of the assessee. en-us Fri, 19 Jan 2018 00:00:00 +0530 Mon, 26 Mar 2018 19:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357635 Lease premium paid for acquiring leasehold rights was treated as capital expenditure and not as rent for TDS purposes under section 194I. The Tribunal, relying on prior judicial rulings, rejected the revenue's attempt to characterise the premium as advance rent and held that the payment was made to secure substantial rights in land, not for use of property as recurring rent. On that basis, the Tribunal also found no failure to deduct TDS under section 194I on the lease premium, and upheld the First Appellate Authority's view in favour of the assessee. Case-Laws Income Tax Fri, 19 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357635