2013 (5) TMI 53

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....,C.S.C.(I.T.Deptt.) ORDER Heard Sri S.D.Singh, learned counsel appearing for the petitioner, Sri Nisheeth Yadav, learned counsel appearing for respondents no. 1 to 4 and Sri Ashok Kumar, learned Senior Standing Counsel for respondent no.5 - Income Tax Department. The petitioner is a company engaged in manufacture of IC Engine based on power products. It had entered into a lease agreement with ....

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....der which interest over unpaid payment of lease rent to the tune of Rs.16,83348/- has been demanded. It has also been directed to the petitioner not to deduct tax at source out of lease rent which is to be enhanced every ten years from the date of lease. Sri Singh learned counsel appearing for the petitioner submits that the petitioner is duty bound to deduct the Income Tax at source on the lease....

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....subjudice. Therefore, Sri Singh learned counsel appearing for the petitioner submits that in order to avoid any kind of further dispute the petitioner is prepared to pay interest demanded and suggests also to deposit an amount equal to tax deducted at source with the respondent. But the prayer is to keep the said amount in an interest bearing account so that Noida Authority may pay back such amoun....