TCS u/s 206C - sale of 'scrap' of arising on dismantling of ...

Non-excisable products from ship dismantling not considered 'scrap' u/s 206C for TCS purposes.

September 27, 2019

Case Laws Income Tax AT

TCS u/s 206C - sale of 'scrap' of arising on dismantling of ships - the non-excisable products are obtained from the ships and sold as it is without undergoing any manufacturing process thereon and the same therefore cannot partake the character of scrap within the meaning of section 206C. - AT

View Source

← Previous Next →

TCS u/s 206C - sale of 'scrap' of arising on dismantling of ...

Non-excisable products from ship dismantling not considered 'scrap' u/s 206C for TCS purposes.

September 27, 2019

Case Laws Income Tax AT

You may also like:

TCS u/s 206C - Not collection of tax at source on Old and used plates, Non-excisable (exempted) like furniture, wood, etc., Trading of scrap (melting) and High seas sale...

TCS u/s 206C - TCS & interest liability where the buyer has paid the taxes - sale of ship-breaking scrap against delcaration in Form no. 27C - matter remanded back to...

TCS u/s 206C(1) - activity of sale of scrap - to fall under the definition of scrap as given in the Explanation to section 206C of the Act, the term ‘waste’ and ‘scrap’...

Non-collection of TCS u/s 206C - there is no ambiguity that the seller of forest product is required to collect tax on forest produce. But the “Minor Forest Product” are...

Tax collected at source (TCS) u/s 206C on sale of scrap - Revenue treated assessee as "defaulter" for non-collection of TCS u/s 206C. Held: Sale categorized into three...

Item sold in scrap i.e. Tin, iron scrap, plastic drum etc. is not scrap generated from manufacturing process - No liability to deduct TCS U/s 206C - AT

Failure to collect TCS u/s 206C(1) - trading of scrap - sale of scrap to manufacturer - Period of limitation - assessee being trader, not covered in definition of...

TCS on Scrap - section 206C - there is no requirement that the goods to be eligible for scrap should be produced/manufacture by the seller itself. - In present...

Non collection of TCS (tax collection at source) - DOC is a by-product and it certainly cannot be categorized as scrap and waste and it has its own market value - AO has...

TCS on sale in terms of section 206C - trading of non-ferrous metal scrap - failure to submit the form 27C within the time prescribed - since the assessee had furnished...

Non collection of TCS (tax collection at source) - main husk is a by-product and the same cannot be considered as scrap and waste as provided in the Explanation to...

TCS - scrap generated from the mechanical working of the material (breaking of the ship) - The assessee is duty bound to collect the TCS from the buyers in terms of...

TCS u/s 206C - the products resulted from ship breaking activity, which are re-usable. Thus, the assessee was not supposed to collect tax under section 206C - AT

TCS u/s 206C(1) - Purchase by the assessee as scarp subjected to TCS - In view of the undisputed fact that what was purchased by the assessee is scarp subjected to TCS...

Demand u/s 206C(1)/206C(7) - TCS - 206C(1A) mandates person responsible for TCS to not collect taxes if he obtains a declaration from the buyer that he is purchasing the...

Quick Updates: