Supreme Court Allows Appeal in Income Tax TDS Case — Liquor Vendors Are Not 'Buyers' Under Section 206C of Income Tax Act, 1961. Court holds that excise contractors acquiring arrack under state-controlled system are excluded from definition of 'buyer' under Explanation (a)(iii) of Section 206C....
The appeal arose from a dispute under Section 206C of the Income Tax Act, 1961, concerning tax collection at source on the sale of alcoholic liquor. The appellant, a Karnataka government undertaking, ...
