Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (12) TMI 67 - AT - Income TaxNon-deduction of tax at source - Polishing charges paid - Held that:- As per the circular No.433 issued by the CBDT dated 25-09-1985 - The provisions of sec. 194C are wide enough to cover oral contracts also - The intention of the appellant as well as the parties who did the job work is not to purchase/sale of material but that of getting job work of anodizing done - Provisions of sec. 194C have been correctly applied - The assessee does not have facilities for polishing, he gets the polishing work done through outsiders - On receipt of materials after polishing, the assessee used to raise the bill for cost of material by including the charges for polishing - Essential ingredients of a contract are very much available in the polishing works entrusted by the assessee - Decided against assessee. As per the second proviso to sec. 40(a)(ia) of the Act, inserted by the Finance Act, 2012 with effect from 1.4.2013 - The benefit of the same should be applied retrospectively - Following Vector Shipping Services [2013 (7) TMI 622 - ALLAHABAD HIGH COURT] - This part of the issue is restored for fresh adjudication.
|