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No TDS Liability as Buyer’s Share Below ₹50 Lakh: ITAT Clarifies Section 194-IA Scope
Case Law Details
- Case Name
- ITO Vs Tarun Santramdas Varma (ITAT Ahmedabad)
- 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 Ahmedabad
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ITO Vs Tarun Santramdas Varma (ITAT Ahmedabad)
The ITAT Ahmedabad dismissed the Revenue’s appeal challenging the deletion of TDS demand under Section 194-IA for property purchases. The Tribunal upheld the CIT(A)’s findings that no TDS liability arose since each buyer’s payment to individual sellers was below ₹50 lakh, and the law applicable for A.Y. 2015-16 required consideration to be examined per buyer-seller transaction, not on an aggregate basis. It was also held that the Finance Act 2024 amendment introducing aggregation is prospective and not applicable retrospec...
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