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2014 (7) TMI 1122 - HC - Income TaxApplicability of section 194C to the facts of the case - process of getting the bus bodies built by the fabricators - work or works contract on the one hand or a sale - liability to deduct TDS - Held that:- Once a finished product of a definite description and shape was brought into existence with the material and expertise of the agency or per son, who undertook the activity, and a fixed price is paid thereon, the activity tends to be close to sale. Once it is a sale, it ceases to be a work or works contract, from the point of view of section 194C of the Act. Tribunal correctly reversed the order of assessment passed by the Income-tax Officer, as confirmed by the Commissioner of Income-tax (Appeals) & held that section 194C of the Act has no application to the facts of the case. - Decided against revenue.
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