No Section 194-IA TDS Needed as Payment to Each Co-Owner Below ₹50 Lakh, So 234E Levy Set Aside

Smt. Sandhya Gugalia Vs DCIT (ITAT Jaipur) The assessee filed two appeals before the ITAT Jaipur challenging the orders of the CIT(A)-3, Jaipur dated 27.11.2017 and 02.11.2017 for Assessment Year 2014-15, specifically disputing the levy of interest and late fees under Section 234E of the Income Tax Act. The dispute arose from the assessee’s purchase of a residential property located at C-127, Rishabh Path, Bhagirath Marg, Shyam Nagar, Jaipur, jointly owned by two individuals. The total agreed consideration for the property was Rs. 75,00,000, divided equally between the two co-owners. The ass...