TDS Demand Deleted: Section 194-I Prospective for NOIDA Lease Rent Payments

Celebrity Realcon (P) Ltd. Vs ITO (ITAT Delhi) Prospective Application of Sec. 194-I Confirmed – Tribunal Deletes TDS Demand Against Real Estate Firm-No Default for Non-Deduction of TDS on Lease Rent Paid to NOIDA Before 16.02.2017 – ITAT Delhi Assessee, a real estate developer, filed appeal against the order of CIT(A)-41, New Delhi, confirming TDS liability u/s 201(1)/201(1A) on lease rent payments made to NOIDA Authority during FY 2011-12 without deduction of tax at source. AO had treated the assessee as assessee-in-default for non-deduction of TDS u/s 194-I, demanding tax of ₹4,26,798...