Collection of Tax at source::
Last updated: 13 November 2007
Court :
HC
Brief :
Held by the Hon`ble Court that the basic licence fees included in the bid money is not part and parcel of the purchase consideration rather it is a price for parting with the privilege in favour of highest bidder as such it is not liable for collection of tax at source u/s 206C.
Citation :
C.I.T. and Others Vs. District Excise Officer
Collection of Tax at source
C.I.T. and Others Vs. District Excise Officer
04/05/2006
(2006) 284 ITR 22 (Uttaranchal)
Case Fact:
Whether tax is to be collected at source on the basic licence fees collected by the District Excise Officer on tender-cum-Auction of liquor?
Decision:
Held by the Hon`ble Court that the basic licence fees included in the bid money is not part and parcel of the purchase consideration rather it is a price for parting with the privilege in favour of highest bidder as such it is not liable for collection of tax at source u/s 206C.
CA.Saibaburao Nanduri
Published in Income Tax
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