In absence of Applicability of TDS, no Section 40(a)(ia) disallowance

ACIT Vs Alfran Construction Pvt. Ltd. (Bombay at Goa High Court) In the given case, the Assessee vide two separate agreements had agreed with the owners to undertake the projects of construction of Mount Mary’s Complex and M/s. Alfran Plaza. The terms of these agreements do not indicate that the Assessee was appointed as merely a contractor to construct these projects. Rather, the Assessee was to be allotted premises/ area in the said project. The Assessee was given the full liberty to thereafter sell, transfer and convey these areas in favour of third party. Accordingly, it is not corre...