Case Law Details
Case Name : Rajesh Projects (India) Pvt. Ltd Vs CIT (TDS) (Delhi High Court)
Related Assessment Year :
Courts :
All High Courts Delhi High Court
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(1) Amounts paid as part of the lease premium in terms of the time-schedule(s) to the Lease Deeds executed between the petitioners and GNOIDA, or bi-annual or annual payments for a limited/specific period towards acquisition of lease hold rights are not subject to TDS, being capital payments;
(2) Amounts constituting annual lease rent, expressed in terms of percentage (e.g. 1%) of the total premium for the duration of the lease, are rent, and therefore subject to TDS. Since the petitioners could not make the deductions due to the insistence of GNOIDA, a direction is issued to the said authorit...
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NOIDA is a body of State Gov and all the assets and liability on desolution will go to State as per the Industrial Development Act. But as the issue before SC against the order of Allahabad High Court and no other decision of any court which says that Development authority runs by State is local authority as per the provision of the Income Tax Act. Matter has to be considered by the Central and State Gov both in the interest of nation development and business men too.