2001 (2) TMI 8 - SUPREME COURT

Legality of circular dated 8/3/94 - Two interpretations are reasonably possible on the question whether the contractor for carrying of goods would come or not within the ambit of the expression "carrying out any work" - there are no compelling reasons to hold that Explanation III inserted in s. 194C w.e.f. July 1, 1995, is clarificatory or retrospective in operation - hold that section 194C before insertion of Explanation III is not applicable to contracts for carriage of goods