https://www.taxtmi.com/caselaws?id=262067 The court upheld the applicability of Section 206C of the Income Tax Act to timber importers, ruling that the provision applies to all timber transactions, including imports, to prevent tax evasion. The petitioners, who failed to collect tax at source, were deemed "assessees-in-default" and held liable for tax and interest. The court clarified that the deletion of Section 44AC did not impact Section 206C, which independently ensures tax collection at the source, irrespective of the timber's origin. en-us Mon, 15 Dec 2014 00:00:00 +0530 Fri, 31 Jul 2015 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262067 The court upheld the applicability of Section 206C of the Income Tax Act to timber importers, ruling that the provision applies to all timber transactions, including imports, to prevent tax evasion. The petitioners, who failed to collect tax at source, were deemed "assessees-in-default" and held liable for tax and interest. The court clarified that the deletion of Section 44AC did not impact Section 206C, which independently ensures tax collection at the source, irrespective of the timber's origin. Case-Laws Income Tax Mon, 15 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262067