Assessee Purchased an Immovable Property from Power of Attorney holder of two joint owners of said property for consideration of Rs. 60.12 Lakhs .Share of each Co -Owner was Rs.30.06 lakhhs. Assessee deducted one per cent TDS on sale consideration paid by it. AO held that   TDS should have been deducted in name of actual owners and not in name of Power of Attorney holder and since the assessee had not mentioned PAN details of joint owners, tax at source was deductible at rate of 20 Per Cent of purchase consideration accordingly created a demand under S. 201(1) along with interest under S. 201(1A) of the Act CIT(A) confirmed the addition. On appeal the Tribunal held that, even though admitted position is that assessee buyer/ transferee had not deducted tax in hands of joint owners of property, still sub-Section(2) of S. 194IA provides an exception from deducting tax of  1 Per Cent of sale consideration, when sale consideration for transfer of an immovable property is less than Rs.50 Lakhs. Since consideration for each transferor came to Rs. 30.06 Lakhs each, which was below prescribed limit of Rs. 50 Lakhs given by statute S. 194IA  is  not applicable and Assessee was not required to deduct tax at source while making payment for said purchase. Accordingly the addition confirmed by the CIT (A) is deleted.  (AY.2016-17)