DCITv. Tapadiya Construction Ltd. (2025) 236 TTJ 216 (Pune)(Trib)

S.271D: Penalty]-Takes or accepts any loan or deposit]-Immovable property-Amount received for providing additional amenities in the houses sold by the builder-Definition of consideration for transfer of immovable property referred to in s. 194-IA cannot be applied to consideration received for additional amenities]-Penalty was deleted. [S. 132(4), 194IA, 269SS]

 

Held that the Assessee-builder received total consideration on sale of row houses through a banking channel and received a certain amount in cash over and above the agreed consideration for the additional amenities provided as per the specific choices of some customers; the same cannot be said to be consideration for transfer of immovable property, and thus there is no violation of s. 269SS. Levy of penalty was deleted.(AY. 2019-20)

Leave a Reply

Your email address will not be published. Required fields are marked *

*