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TaxTMI 
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2023 (9) TMI 612
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....961 issued by Ld AO, ITO(TDS), Raipur dated 08/02/2021. Grounds appeal raised by the assessee in the present appeal are as under: GROUND NO. I 1. That the Order passed under section 201 r.ws. 234E of the Income Tax Act, 1961 ("the Act') is highly illegal, bad in law, suffers from legal infirmities, without affording adequate opportunity of being heard and hence liable to be quashed. It is prayed that the Appellate Order passed by the Ld. Commissioner of Income Tax (Appeals), National " Faceless Appeal Center ( "the Ld.CIT(AT) under section 250 of the Income Tax Act, 1961 ("the Act") may please be cancelled/set-aside on this ground alone. GROUND NO. II 2. On the facts and in the circumstances of the....
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....r of the Ld.AO in holding the appellant liable for payment of an interest of Rs.26,995/- as per section 201(1A) of the Act which is highly illegal, unjustified, unwarranted, not proper on facts and not in accordance with the provisions of law. Hence, it is earnestly prayed that the demand of interest of Rs.26,995/- may please be deleted. GROUND NO. V 5. That the Appellant craves leave to add, amend, alter or delete all or any of the grounds of appeal at the time of hearing of the appeal. 2. Brief facts of the case are that the appellant an individual, along with his father Shri Bharat. Sawaria and his mother Smt. Kalpana Sawaria jointly purchased Two immovable properties viz. two flats bearing number A2-303 and A2-403 a....
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....ayments made by the these 3 individuals towards individual property works out below the threshold limit for applicability of TDS u/s 194IA i.e Rs. 50,00,000/-. A chart showing payment by each co-buyer of the property is also furnished the same is extracted as under:- JAIMEET SAWARIA I.T.A.No.: 175/RPR/2023 Assessment Year 2019-2020 Details/Bifurcation of Payments made towards Acquisition of Flats at Shrijan Premium Date of Payment Mode of Payment Name of Bank Jaimeet Sawaria Smt.Kalpana Sawaria Shri Bharat Kumar Sawaria 06.11.2015 Ch.No.000006 HDFC Bank 500000 12.01.2016 Ch.No.000007 HDFC Bank 500000 01.02.201....
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....ome Loan of Rs.69,00,000/- from HDFC Bank is divided equally between the co-owners. 4. According to the aforesaid details / bifurcation of payments made towards acquisition of flats at Shrijan Premium by the Assessee along with his parents the consideration paid by the individual buyer for individual flat was less than the prescribed limit of Rs. 50.00, therefore this was the contention of the Ld AR that the assessee was not liable to make deduction of Tax under the provisions of section 194IA. Regarding TDS already done and paid to the Government Account, Ld AR submitted that the same was done by the assessee under abandon caution, however the same was not the mandate of law to deduct tax u/s 194IA. It was thus the submission of Ld AR t....
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..... The aggregate consideration in respect of two flats was fixed at Rs. 1,90,00,000/-. The issue pertaining to applicability of provisions of section 194IA in a case where the consideration is more than Rs. 50.00 Lac is also not disputed by either the assessee or the revenue. The only question to be answered remains that whether the consideration paid for individual flat purchased by the individual co-buyers under a joint registry paid was below the prescribed limit of Rs. 50.00 Lac or not. Ld AR of the assessee demonstrated the fact by submitting a working of bifurcation (extracted supra) of payments made by each participant buyer with supporting evidence in the form of copies of bank statements of each participant. On perusal of the said s....