Section 194IC Applies to Leasehold Land in JDA, but Developer May Avoid Default if Tax Paid

Sugee Seven Developers LLP Vs ITO (ITAT Mumbai) ITAT Mumbai gives partial relief to Developer in JDA TDS dispute – Section 194IC held applicable even for leasehold land, but benefit of proviso to Sect 201(1) may still protect assessee if payee has paid tax Assessee, a real estate developer, entered into a Joint Development Agreement (JDA) with Shri Premal Dayalal Doshi, who held perpetual leasehold rights in land on which redevelopment was undertaken. Under the JDA, Assessee was entitled to sell the constructed area to buyers, while the landholder was entitled to a share of constructed area ...