TCS not deductible if buyer declares use of goods for Manufacture

ACIT Vs M/s. Bansal Ship Breakers P. Ltd. (ITAT Ahmedabad)

Any person responsible for collecting taxes (TCS) under section 206(1) need not to do so if he obtains a declaration from the buyer that he is purchasing the goods for re-use in manufacturing process or producing article or things. It does not say that such declaration has to be obtained at the very same moment when sale is effected.

FULL TEXT OF THE ITAT JUDGEMENT

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