premium" in Section 105 of the Transfer of Property Act, would certainly constitute rent within the meaning of Section 194-I, by virtue ... legal contentions revolving around (i) Section 105 of the Transfer of Property Act, (ii) the Explanation under Section 194-I (iii) the decisions making
herein constituted under Section 116 of the Act to issue Circular/ Clarification with regard to the applicability of Section 194-I ... payee and the provisions of this section shall apply accordingly."
8. Section 194-I inserted by the Finance Act, 1994 with effect from
assessee was liable to deduct tax from the aforesaid payments under section 194-I of the I.T. Act and since it had failed ... merits, however, the CIT(A) held that the provisions of section 194-I were applicable to the amounts of commission or royalty payable
income amenable to Section 194(J) of the Act.
7. On the issue of rent it was argued that Section 194(I ... under Section
10(23)(c) of the Act.
8. Per contra, learned Counsel appearing for the
respondent Sri Parthasarthy contended that Section 194(I
defined in Section 194-I of the Act. The definition of 'rent' defined in the Explanation (i) to Section 194-I ... payee and the provisions of this section shall apply accordingly.
Clause (i) of the Explanation to Section 194-I coins a definition of the expression
termed as 'rent' for the purposes of Section 194-I of the Act.
12. Let us now take a look at the statutory ... appearing in Explanation (i)
to Section 194-I.
15. Explanation (i) to Section 194-I , as we have noted above, defines
rent as any payment
thereon since the same is not covered under
Section 194-C or under Section 194-I of the
Income Tax Act.
4. The Assessing Officer ... default in deducting tax at
source in terms of Section 194-I or 194-C
of the Act.
11.8. Sri. K.V. Aravind learned Senior
which tax was required to he deducted by the assessee under section 194-I of the Act. For lack of non-deduction ... rents adjustable against future rent should be subjected to TDS under section 194-I . The assessing officer also mentions certain circulars of the Central Board
provisions of section 194C of the Act , but later gave up and
proce eded to apply section 194I / 194J of the Act. Ho wever ... they ca nnot be subj ected to provis ions of section 194-1 of the Act.
We, however , clarif y that this
termed as 'rent' for the purposes of Section 194-I of the Act.
12. Let us now take a look at the statutory ... appearing in Explanation
(i) to Section 194-I.
15. Explanation (i) to Section 194-I , as we have noted above, defines rent as
any payment
