Wednesday, December 5, 2018

By-product retained by miller couldn't be considered as payment for milling of paddy

IT: Where assessee procurement agency which procured paddy entered into an agreement with a miller for milling paddy for consideration of certain cash amount and as per agreement, by-product arising from process of milling was property of miller, such by-product retained by miller did not constitute a payment of consideration for work of milling of paddy and, thus, assessee was only liable to deduct TDS on cash consideration paid for milling work

from www.taxmann.com Latest Case Laws https://ift.tt/2zKJm0d

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