TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Supreme Court rules liquor trade licensees not buyers under Income-tax Act</h1> The Supreme Court dismissed a special leave petition concerning the application of section 206C of the Income-tax Act, 1961 to liquor trade licensees. The ... In the instant case, when the Government issues a licence, it only enables the licensee to carry on trade or business in that item. The payment made by the licensee by way of licence fee does not ipso facto entitle the licensee to lift the goods. For obtaining the goods mentioned in the Table, the licensee has to place an order on the manufacturer or the supplier of the said goods and it is at that point of time that section 206C would get attracted - special leave petition is dismissed The Supreme Court dismissed a special leave petition regarding the applicability of section 206C of the Income-tax Act, 1961 to licensees in liquor trade. The Court clarified that the payment of a license fee does not automatically entitle the licensee to lift goods, and therefore, such licensees do not fall within the definition of 'buyer' under the section.
TaxTMI 
TaxTMI 
