TaxTMI 
TaxTMI 
2022 (11) TMI 571
X X X X Extracts X X X X
X X X X Extracts X X X X
....tion, the details of which are as under: A.Y. 201(1) 201(1A) 2011-12 Nil 2012-13 Nil 2013-14 2014-15 3. Brief facts of the case are as under: 3.1 Assessee is a cooperative housing society with main object to provide residential sites to its members. Assessee entered into an agreement with M/s. Shree Sai Associates for procurement and development of sites and transfer the same to the assessee for purposes of allotting the sites to its members. It is a submission of assessee that the agreement was entered into between M/s. Shree Sai Associates vide MoU dated 21/09/2010 for purchases of developed land and therefore TDS was not liable to be deducted. Revenue however treated assessee to be 'assessee in default' for not deduct....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rised M/s. Shree Sai Associates to develop the land and transfer the same to the society. He submitted that various clauses in the MoU categorically stipulates that M/s. Shree Sai Associates would procure the land and convey the developed society to the assessee. Referring to clause (4) of the MoU, the Ld.AR submitted that M/s. Shree Sai Associates has entered into purchase of lands from the respective owners in order to develop them. He thus submitted that assessee was in the bonafide belief that TDS was not liable to be deducted. 5. The Ld.AR submitted that assessee on completion of the layout work was to pay the remuneration at Rs. 387/- per sq.ft. of the developed premises which includes the cost of the land, various charges paid by M/....
X X X X Extracts X X X X
X X X X Extracts X X X X
....able on or during the course of the development of the project land. The clause (17) further refers to the name that shall be adopted for the entire project that would be decided by the assessee alone. The obligation clause no. (22) of the MoU reveals that the work carried out by the developer / contractor was as per the requirements of the assessee. Assessee could have approached various government officials for necessary permission and therefore approach the developer/contractor to carry out the development of residential layout in all respects over the project land. For sake of clarity, we reproduce clause (22) herewith as under: 9. On perusal of the above clauses, we do not hesitate to agree with the view taken by the revenue authoriti....