Transit Rent Not Taxable: Developers' TDS Deductions on Tenant Allowances Exempt from Taxation Under Income Tax Act.

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....TDS u/s 194I - Transit Rent payable by the developer/ builder as Hardship Allowance / Rehabilitation Allowance / Displacement Allowance - Hardship due to dispossession - After considering Section 194(I) of the Income Tax Act and the arguments presented along with relevant ITAT decisions, the court ruled that "transit rent" should not be considered as a revenue receipt and is not liable to be taxed. Therefore, there is no requirement for TDS deduction from the amount payable by the developer to the tenant.....