issued only U/s 206C(6)/206C(7) for the reason that the default, if any
was found U/s 206C(6) for non collection ... covers sale of scrap in the business of trading in scrap also.
Two, sub-section (1) of section 206C requires the 'seller
head note of section 206C shows that
the provisions of section 206C are applicable to business of trading, inter alia,
in scrap ... covers sale of scrap in the business of trading in scrap also.
Two, sub-section (1) of section 206C requires the 'seller
Trading of scrap (melting)
4. High seas sale.
6. The Tribunal, after considering the definition of scrap under
clause (b) to section 206C ... scrap as envisaged in
the Explanation to section 206C(l) of the Act.
7. Section 206C of the Act bears the heading, "Profits
therefore, the Assessing Officer passed an order under section
206C(6) , 206C(6A) and 206C(7) of the Income Tax Act, 1961. It
was submitted ... scrap as envisaged hi the Explanation to
section 206C(1) of the Act.
7. Section 206C of the Act bears the heading, "Profits
source as per the provisions of
section 206C(1D) but at the same time interest under
section 206C(7) was charged from the date ... scrap given in the Explanation to section
206C , the assessee stated that for the purposes of section
206C scrap meant waste and scrap obtained from
only scrap, "which may be cast iron scrap, non
ferrous metal scrap, wooden scrap, melting scrap,
machinery scrap, rerolling scrap etc. All these items ... relevant provisions of applicable
section, sub-Section and explanation of Section 206C of the Act, which
provides as under:
206C. PROFITS AND GAINS FROM
within the meaning of definition provided in Section 206C of
the IT Act. Section 206C reads as under:-
"Profits and gains from the business ... Table in
sub-section (1) or sub-section (1D) are sold.
5.1 With respect to 'scrap' as in section 206C
section (1) of section
206C as a result of which every seller (as defined in Explanation (c)
to section 206C ) of scrap is required ... provisions of sub-section (1A) and (IB)
of section 206C . [Para 19]
The provisions of section 206C have been enacted to ensure collection
of taxes
section (1) of section
206C as a result of which every seller (as defined in Explanation (c)
to section 206C ) of scrap is required ... provisions of sub-section (1A) and (IB)
of section 206C . [Para 19]
The provisions of section 206C have been enacted to ensure collection
of taxes
section (1) of section
206C as a result of which every seller (as defined in Explanation (c)
to section 206C ) of scrap is required ... provisions of sub-section (1A) and (IB)
of section 206C . [Para 19]
The provisions of section 206C have been enacted to ensure collection
of taxes
