2025 (2) TMI 771

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....ax Act, 1961 (the "Act") challenging the Order dated 23.01.2023 passed by the learned Income Tax Appellate Tribunal, Ranchi Bench in I.T.A No. 38/Ran/2021. 3. The Revenue has raised the following substantial question of law as stated in paragraph 2 of the memo of appeal: a. Whether on the facts and in law, the learned Tribunal has erred in ignoring the fact that it is duty and the responsibility of the assessee company to collect TCS @ 1% under section 206C (1A) of the Act from all buyers on the sale of coal if it is not used for self-consumption or for the purpose for which it was intended to be used ? b. Whether on the facts and in law, the learned Tribunal has erred in holding that the assessee company is not respons....

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....orm 27C to the seller, M/s Central Coalfields Limited, on the Income Tax Department? f. Whether on the facts and in law, the learned ITAT has erred in ignoring the outcome of enquires made in the case of M/s Gautam Coal Works Pvt. Ltd. establishing the fact that this buyer was not the end user of the coal purchased from M/s Central Coalfields Limited? g. Whether on the facts and in law, the learned ITAT has erred in deleting the entire demand against the respondent assessee, M/s Central Coalfields Limited on the technical ground that the entire demand was created for a single Assessment Year 2018-19, whereas in the order u/s 206C dated 10.11.2017, the TCS demands as well as the interest thereof were calculated for each Ass....

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.... articles or things and not for trading purposes shall be in Form No. 27C and shall be verified in the manner indicated therein." 7. The 'declarant' in Form-27C is the 'purchaser' and not the 'seller'. The verification/ declaration part of Form-27C reads as under: "I/We ........................................ do hereby declare that to the best of my/our knowledge and belief what is stated above is correct, complete and is truly stated. I/We declare that the goods referred to in Column No.21 shall not be used for trading purposes. I/We also, declare that I/We am/are resident in India within the meaning of section 6 of the Income-tax Act, 1961." 8. Quite clearly, the phrase 'verified in the prescribed manner' in the scheme of ....