https://www.taxtmi.com/caselaws?id=395422 The ITAT Jaipur held that a jurisdictional objection to the assessing authority required specific adjudication and remitted that issue for fresh decision. It further directed recomputation of the TCS demand and interest, noting that tax collection liability could not be equated with the sale consideration and that interest under section 206C(7) had to follow the amended statutory period. The Tribunal also held that Form 27C declarations under section 206C(1A) are a substantive basis for exemption, so belated filing does not by itself defeat relief if genuineness and correlation are verifiable; the matter was remitted for verification. The Revenue's objections on additional evidence, Form 27BA, and TDS-based principles were rejected. en-us Wed, 15 Apr 2020 00:00:00 +0530 Wed, 06 Nov 2024 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395422 The ITAT Jaipur held that a jurisdictional objection to the assessing authority required specific adjudication and remitted that issue for fresh decision. It further directed recomputation of the TCS demand and interest, noting that tax collection liability could not be equated with the sale consideration and that interest under section 206C(7) had to follow the amended statutory period. The Tribunal also held that Form 27C declarations under section 206C(1A) are a substantive basis for exemption, so belated filing does not by itself defeat relief if genuineness and correlation are verifiable; the matter was remitted for verification. The Revenue's objections on additional evidence, Form 27BA, and TDS-based principles were rejected. Case-Laws Income Tax Wed, 15 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395422