Collection of Tax at source::

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.

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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