Tag: TDS on scrap
TCS Payable not hit by section 43B as it can not be debited in Profit and Loss account and claimed as deduction – ITAT In a recent judgment, the ITAT Amritsar has held that TCS Payable is not hit by the provisions of section 43B of the Income …
Sale of scrap not generated from a manufacturing/mechanical process not liable to TCS u/s 206C of the Act although to be liable seller need not be a manufacturer itself – ITAT In a recent judgment, the ITAT Cochin has held that a seller is liable to deduct TDS …
Trader in scrap not liable to collect TCS u/s 206C if scrap not a result of manufacturing ABCAUS Case Law Citation:ABCAUS 3284 (2020) (03) ITAT Important case law relied upon by the parties:Navine Fluorine International Ltd. vs. ACIT (TDS)Nathulal P. Lavti vs. ITO(TDS)M/s Bharti Auto Products vs. CITDhasawala …