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allowability of tcs
I used to purchase coal from a party which had failed to collect TCS from me and other purchasers from several years. . Now the department has raised demand over the seller and the seller has monopoly in my city and therefore it collected the demand from those purchasers.. Further, they have told me that I am not going to get credit of those TCS amount.. Can I claim it as revenue expenditure!?
Replies (1)
You should claim it but this will be a matter of dispute and u may have to go upto ITAT
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