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TDs deductible on non-refundable ‘upfront charges’ for leased asset
Case Law Details
- Case Name
- Foxconn India Developer (P.) Ltd. Vs Income-tax Officer, TDS Ward-II(3), Chennai (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007-08
- Courts
- All ITAT, ITAT Chennai
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IN THE ITAT CHENNAI BENCH ‘C’
Foxconn India Developer (P.) Ltd.
V/s.
Income-tax Officer, TDS Ward-II(3), Chennai
IT Appeal No. 492 (Mds.) of 2010
[Assessment year 2007-08]
April 30, 2012
ORDER
Abraham P. George, Accountant Member
In this appeal filed by the assessee, its grievance is two-fold. First is that the CIT(Appeals) confirmed the action of the A.O. considering upfront charges paid by the assessee to SIPCOT for allotment of land as rent advance, making the assessee liable for deduction of tax at source under Section 194-I of Income-tax Act, 1961 (in short ‘the Act̵...
