No Section 194IA TDS on payment not related to transfer of immovable property

Prestige Estates Projects Ltd. Vs ACIT (ITAT Bangalore)

In our opinion, even if it is advance payment, it is not linked to the transfer of immovable property as enumerated in Section 194-IA of the Act, since the condition laid down in Section 2(47)(v) of the Act was not complied with within the meaning of Section 53A of the T.P. Act, so as to deduct TDS by the assessee on the said refundable security The assessee cannot be hold as the assessee in default u/s. 201(1) and 201(1A) of the Act. It is ordered accordingly.

FULL TEXT OF THE ITAT JUDGEMENT

This appeal at the instance of the assessee is directed against the order of the CIT(A)-13, Bangalore, dated 14.02.2019. The relevant assessment year is 2014-2015.

2. The assessee has raised the following grounds :

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