2018 (3) TMI 1407

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....I of the Income-tax Act, 1961 (hereinafter referred to as the "Act"). For that revenue has raised the following grounds of appeal. "Ground No. 1 That on the facts & circumstances of the case, the Ld. CIT(A) has erred in holding that premium for acquiring leasehold rights for the leased plot was not rent, whereas the real nature of the payment of the impugned amount by way of "Lease Premium" falls within the purview of sub-clause (i) of explanation to Sec. 1941 of the LT. Act, 1961. Ground No. 2 That on the facts & circumstances of the case, the Ld. C1T(A) has erred both on facts and in law to appreciate that the issue in question was not capital vs. revenue expenditure, but whether the payment was made fo....

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....of premium of Rs. 1182,51, 22,200/- . According to the agreements the amount of premium was to be paid in one time or the assessee has to pay the annual instalment with simple interest @10% p.a. on every payment of instalment and also delayed payment of instalment will attract penal interest at the prevailing prime lending rate decided by the Reserve Bank of India on the total amount due. From the details filed by the assessee it was found that during the year under consideration the assessee company has paid lease premium to MMRDA without deducting the TDS U/s 194I of the Act, as under: Sl. No. Date of payment Nature of payment Amount paid 1. 06/09/2011 Premium/charges on additional work 8,71,98,515/- 2. 21/11....

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....2016 and ITA No. 243/Kol/2015 for AYs 2010-11 and 2011-12 vide order dated 19.01.2018, wherein the tribunal followed its own order in assessee's own case for AY 2008-09, wherein it was held as under: "7. We find that the Tribunal has, in the assessee's own case for the Assessment Year 2008- 09, on an identical issue held as follows:- "15. On careful consideration of the rival submissions, we observe that as per section 194-1 of the Act, any person, not being an individual or a Hindu 4 I.T.A. No. 242/Kol/2016 Assessment Year: 2010-11 & I.T.A. No. 243/Kol/2016 Assessment Year: 2011-12 M/s. Earnest Towers Pvt. Ltd undivided family, who is responsible for paying any income by way of rent, shall, at the time of credit of such i....