https://www.taxtmi.com/caselaws?id=765572 ITAT Mumbai held that compensation payments for alternative accommodation during redevelopment do not attract TDS under section 194IC. The tribunal followed precedent from Nathani Parekh Construction case, ruling that alternate accommodation charges cannot be treated as consideration for share in land and building under specified agreements. The assessee had booked these expenses as rent in profit and loss account. CIT(A)'s deletion of tax and interest under sections 201(1) and 201(1A) was upheld, deciding in favor of the assessee. en-us Thu, 30 Jan 2025 00:00:00 +0530 Tue, 04 Feb 2025 08:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765572 ITAT Mumbai held that compensation payments for alternative accommodation during redevelopment do not attract TDS under section 194IC. The tribunal followed precedent from Nathani Parekh Construction case, ruling that alternate accommodation charges cannot be treated as consideration for share in land and building under specified agreements. The assessee had booked these expenses as rent in profit and loss account. CIT(A)'s deletion of tax and interest under sections 201(1) and 201(1A) was upheld, deciding in favor of the assessee. Case-Laws Income Tax Thu, 30 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765572