https://www.taxtmi.com/caselaws?id=752051 ITAT Ahmedabad ruled in favor of assessee regarding TCS collection under Section 206C. The assessee sold scrap without collecting 1% TCS and failed to submit Form 27C declarations from buyers. ITAT held that since no specific timeline is prescribed for receiving Form 27C declarations from purchasers, delay in filing cannot deny benefit to assessee if seller demonstrates no fault in furnishing declarations upon receipt. Following precedents from Gopallal Ramprasad Kabra and Chandmal Sancheti cases, matter was remanded to Assessing Officer for verification of Form 27C genuineness and granting appropriate relief if found valid. en-us Tue, 30 Apr 2024 00:00:00 +0530 Thu, 02 May 2024 08:23:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752051 ITAT Ahmedabad ruled in favor of assessee regarding TCS collection under Section 206C. The assessee sold scrap without collecting 1% TCS and failed to submit Form 27C declarations from buyers. ITAT held that since no specific timeline is prescribed for receiving Form 27C declarations from purchasers, delay in filing cannot deny benefit to assessee if seller demonstrates no fault in furnishing declarations upon receipt. Following precedents from Gopallal Ramprasad Kabra and Chandmal Sancheti cases, matter was remanded to Assessing Officer for verification of Form 27C genuineness and granting appropriate relief if found valid. Case-Laws Income Tax Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752051