https://www.taxtmi.com/caselaws?id=299329 The court ruled in favor of the Government Company, holding that it is exempt from the provisions of Section 206C(1) of the Income Tax Act as a public sector entity. The judgment clarified that the Government Company, being wholly owned by the State, falls within the definition of a public sector company and is not liable to pay Tax Collected at Source (TCS) on the sale of specified goods. The court also affirmed the Government Company's right to seek a refund of the TCS collected and directed the Income Tax authorities to promptly refund the amount due. en-us Thu, 03 Jan 2019 00:00:00 +0530 Fri, 10 Dec 2021 08:34:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299329 The court ruled in favor of the Government Company, holding that it is exempt from the provisions of Section 206C(1) of the Income Tax Act as a public sector entity. The judgment clarified that the Government Company, being wholly owned by the State, falls within the definition of a public sector company and is not liable to pay Tax Collected at Source (TCS) on the sale of specified goods. The court also affirmed the Government Company's right to seek a refund of the TCS collected and directed the Income Tax authorities to promptly refund the amount due. Case-Laws Income Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299329