TDs deductible on non-refundable ‘upfront charges’ for leased asset

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 &#...