https://www.taxtmi.com/caselaws?id=306688 The Tribunal considered the assessee's appeal regarding default under section 206C of the Income Tax Act for not collecting tax at source on scrap sales. While the CIT(Appeals) upheld the default status due to non-compliance with TCS collection requirements, the Tribunal referred to precedents and directed a fresh assessment by the Assessing Officer, emphasizing the need for a hearing opportunity for the assessee. The non-submission of Form 27C within the deadline was pivotal, with the Tribunal distinguishing it as a procedural lapse rather than automatic default grounds. The submission of Form 27BA by the assessee, evidencing buyers' tax payments, was deemed relevant in deciding default status. en-us Wed, 06 Jul 2022 00:00:00 +0530 Sat, 18 Feb 2023 06:44:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306688 The Tribunal considered the assessee's appeal regarding default under section 206C of the Income Tax Act for not collecting tax at source on scrap sales. While the CIT(Appeals) upheld the default status due to non-compliance with TCS collection requirements, the Tribunal referred to precedents and directed a fresh assessment by the Assessing Officer, emphasizing the need for a hearing opportunity for the assessee. The non-submission of Form 27C within the deadline was pivotal, with the Tribunal distinguishing it as a procedural lapse rather than automatic default grounds. The submission of Form 27BA by the assessee, evidencing buyers' tax payments, was deemed relevant in deciding default status. Case-Laws Income Tax Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306688