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Compensation/Damages Payment by Builder/Developer is not Interest for TDS
Case Law Details
- Case Name
- Sawhney Builders Pvt. Ltd. Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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Sawhney Builders Pvt. Ltd. Vs ACIT (ITAT Delhi)
In a recent case, Sawhney Builders Pvt. Ltd. challenged the treatment of compensation payments to allottees by the Income Tax Department. The dispute revolved around whether these payments should be categorized as interest, and whether the builder was obligated to deduct Tax Deducted at Source (TDS). This article discusses the case in detail and the Income Tax Appellate Tribunal (ITAT) Delhi’s verdict.
Detailed Analysis: Sawhney Builders Pvt. Ltd. filed an appeal against the order dated 09.09.2019 by the Commissioner of Income Tax (Appeals)...
Builder paid as compensation whats tax status