only scrap, "which may be cast iron scrap, non
ferrous metal scrap, wooden scrap, melting scrap,
machinery scrap, rerolling scrap etc. All these items ... known as scrap in the commercial market. Disposal of these
scrap item can be made only in scrap market.
(e) He has placed reliance
furnished the
reconciliation statement for scrap sales as per profit and
loss account and scrap sale shown in TCS return. However ... 2019, wherein the
amount of Roll scrap sale was reduced from the scrap sale
shown in TCS return to match the amount of scrap sales
collection at source (TCS). As
per the assessing officer (AO), the assessee was required to make
TCS @ 1% of the scrap sold as per provisions ... scrap' including only scrap as
generated by assesses during manufacturing process and not that
dealt with as trader of scrap. During the course
scrap, within the meaning of Section
206C , including those trading in scrap are liable to collect tax at source from
the buyers of such scrap ... Assessing officer that the assessee
was liable to collect TCS on its entire scrap sales of Rs. 79,55,013/- for the
financial year
collect the TCS on purchase of scrap, however, the sellers of scrap
have not claimed TCS in the ROI filed Hence, in absence of TCS ... purchases as bogus. The appellant has submitted that the applicability of
TCS on scrap comes into picture only when the trade of scrap is between
collect the TCS on purchase of scrap, however, the sellers of scrap
have not claimed TCS in the ROI filed Hence, in absence of TCS ... purchases as bogus. The appellant has submitted that the applicability of
TCS on scrap comes into picture only when the trade of scrap is between
generate scrap from manufacture or
mechanical working of materials undertaken by him and therefore
even the trader of scrap is liable to make TCS ... Scrap, within the meaning of Section 206C ,
including those trading in scrap are liable to collect tax at source
from the buyers of such scrap
generate scrap from manufacture or
mechanical working of materials undertaken by him and therefore
even the trader of scrap is liable to make TCS ... Scrap, within the meaning of Section 206C ,
including those trading in scrap are liable to collect tax at source
from the buyers of such scrap
collect the TCS on purchase of scrap, however, the sellers of scrap
have not claimed TCS in the ROI filed. Hence, in absence of TCS ... purchases as bogus. The appellant has submitted that the applicability of
TCS on scrap comes into picture only when the trade of scrap is between
generate scrap from manufacture or
mechanical working of materials undertaken by him and therefore
even the trader of scrap is liable to make TCS ... Scrap, within the meaning of Section 206C ,
including those trading in scrap are liable to collect tax at source
from the buyers of such scrap
