No TCS on transaction of purchase of coal which is to be used in generation of power

Adhunik Power & Natural Resources Ltd. Vs Central Coalfields Limited (Jharkhand High Court) Jharkhand High Court held that TCS is not to be collected in the transaction of purchase of coal which is used in generation of power. Accordingly, illegal sum collected as TCS is ordered to be refunded back with interest. Facts- The case of the Petitioner Company is that the Respondent forcefully realised Rs. 7,86,33,649/- from the Petitioner in the guise of Tax Collected as Source (TCS) for the period FY 2012-2013 to the First Quarter of FY 2017-2018. It was contended that the benefit of Section 2...