cotton waste is scrap within the meaning of the term under
Section 206C of the Income Tax Act, 1961 (in short the Act) and
that ... petition
under the Act. There is uncertainty regarding the applicability
of Section 206C of the Act to cotton waste. Section 206C
facts in deleting the
addition made u/s.206C(1) of the Income Tax Act
on account of noncollection of TCS on sale ... scrap and interest charged u/s.206C(7) in spite
of the fact that the assessee was trader of scrap
Page
Scrap"
in the terms of the Explanation (b) to the section 206C
of the I.T. Act, 1961 and its sale is liable ... stage but also at each stage of sale as
provided in section 206C
Scrap' in the terms of the
Explanation (b) to the Section 206C of the I.T. Act, 1961
and its sale is liable ... stage
but also at each stage of sale as provided in section 206C
respectively including interest u/s 206C(6A) / 206C(7) of
the I.T. Act, 1961?
2. Whether on the facts and circumstances of the case ... interest has to be charged under the proviso to section 206C(7) of
Income Tax Act, 1961 at the very maximum it should be charged
framed for the Asst Years 2005-06 to 2009-10 u/s 206C(6) / 206C(7) of the Income
Tax Act, 1961 (hereinafter referred ... assessee could
be said to have violated the provisions of section 206C of the Act in the facts and
circumstances of the case
confirming the findings of
the AO that provisions of section 206C is applicable
on traders of scrap.
2. The Ld. Commissioner of Income Tax (Appeals ... period, the assessee is liable to collect
tax at source u/s 206C. He has further erred in
ignoring the various case laws relied upon
facts and in law in deleting the
additions made u/s. 206C(6) / 206C(7) of the I.T. Act on non
collection ... facts and in law in deleting the
addition made u/s 206C(6) / 206C(7) by wrongly relying on the
I.T.A.T decision
thereby
confirming the demand of tax of Rs. 1,423/- u/s
206C(6A) and interest Rs.854/- u/s 206C(7). He has
further ... erred in confirming the levy of interest u/s
206C(7) even when the payee has paid tax more
than that due as per return
Assessments were framed by ITO Ward-
57(2), Kolkata u/s 206C(7) of the Income Tax Act, 1961 (hereinafter referred ... interest on TCS assessed u/s
206(6) & 206C(7) .
2. Ground No. 2 That on the facts & circumstances of the case
