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Case Law Details

Case Name : The Assistant Commissioner of Income Tax Vs M/s. Tube Investments of India Ltd. (ITAT Chennai)
Appeal Number : I.T.A. No. 1560/Mds/2007
Date of Judgement/Order : 23/05/2011
Related Assessment Year : 2005-06
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ACIT Vs M/s Tube Investments of India Ltd. (ITAT Chennai) – A perusal of the terms and conditions as also the invoices as found in the paper book clearly shows that sales tax and excise duty had been collected on the supply of materials by the vendors to the assessee. In these circumstances, in view of the finding of the Honourable Supreme Court in the case of Silver Oak Laboratories P. Ltd. in S.L.P. No. 18012/2009 dated 17-08-2010, referred to supra, we are of the view that the transaction involved in the present case is a contract for sale and not a contract for carrying out any works.

In the circumstances, respectfully following the principles as laid down by the Hon’ble Supreme Court in the case of Silver Oak Laboratories P. Ltd., referred to supra, the finding of the learned CIT(A) on this issue stands confirmed. In the circumstances, the appeal of the Revenue is dismissed.

The Assistant Commissioner of Income Tax v. M/s. Tube Investments of India Ltd.

ITAT Chennai

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0 Comments

  1. Badal Deb says:

    Printing material supplied by the vendor with Vat Invoice, vising card, drawings, stationary item.Should we deduct TDS on Vat Invoices? Is there any limit to purchase printing & stationary item for TDS deduction? Please send the reply with the latest Income Tax Rules. Thanks

  2. Krishna G Lokapur says:

    Whetner this is applicable to those also who undertake the contract including material & in his bill if he charges the sales tax. Then whether we have to deduct TDS or not ?

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