Provision of Sec. 194C not applicable if rights to sell, transfer & convey area of complex assigned to third party

INCOME TAX: Where assessee had entered into agreements with owners of land for construction of complex and it was to be allotted some area in complex and it was given full liberty to thereafter sell, transfer and convey area in favour of third party and it had assigned its rights in favour of one 'P', since neither assessee nor 'P' could be styled as contractors, section 194C was not attracted in subject case

from www.taxmann.com Latest Case Laws https://ift.tt/3ac6TpW