Case Law Details
Case Name : Glenmark Pharmaceuticals Ltd. Vs ITO (TDS) [ITAT Mumbai]
Related Assessment Year : 2006- 2007
Courts :
All ITAT ITAT Mumbai
RELEVANT PARAGRAPH
23. After careful consideration of the above circular it is clear that the contract for the sale of goods will not be covered within the ambit of sec. 194 C. In the present case we find that the assessee placed orders with the manufacturers for manufacturing of the medicines strictly according to its specifications but the property in such goods passed to the assessee only after these were delivered to him. When the manufacturers were purchasing the raw material at their own cost under incurring other expenses subsequently the product is delivered to the assessee. If it is m...
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