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2016 (7) TMI 1483 - AT - Income TaxTDS u/s 194C - indeterminate value of bye products retained free of cost by the rice millers in accordance with policy framework and guidelines of the Central Government agency - consideration in kind - Held that:- As decided in ITO VERSUS AHAAR CONSUMER PRODUCTS (P) LTD. [2011 (2) TMI 488 - ITAT, DELHI] occurrence of just exchange of goods for goods and does not involve any cash outflow. Although services were taken, it is difficult to say that the residuals and the losses left by the assessee in favour of AIL are purely consideration for the job that is done. The market fluctuations in the price structure of the raw material and the end product cannot be just ignored in the whole transaction nor the process loss. The process loss could be either more or less than the percentage agreed to between the parties - the residual that is left by the assessee, apart from covering the labour cost of processing, also includes the protection from market fluctuations as also protection from adverse process loss. - Decided in favor of assessee.
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