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Interest U/s. 194A not deductible on excess amount paid by builder to Purchaser on cancellation of agreement to sale
Case Law Details
- Case Name
- M/s Beacon Projects Pvt Ltd. Vs CIT (Kerala High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Kerala High Court
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The appellant company is a builder which had entered into construction agreements with various customers. A specimen of such an agreement is produced as Annexure I in these appeals. This agreement states that the purchaser of the apartment specified therein has already purchased the specified extent of undivided share in the land owned by the landlord, whose power of attorney is held by the appellant. The agreement provides for construction of a flat by the appellant for and on behalf of the purchaser. Payments are to be made by the purchaser in instalments which are also specified in the agre...
