1992 (9) TMI 31 - HC - Income Tax

Summary

The High Court of Patna heard a case involving the collection of income tax by a wholesaler selling alcoholic liquor to a retail vendor. The court declared that if the wholesaler is an individual, Hindu undivided family, or association of persons, they cannot collect income tax under section 206C of the Income-tax Act, 1961. The court directed the Income-tax Department to adjust any deposited amounts after final assessment. The judgment considered amendments made by the Finance Act, 1992, and noted pending adjudication on related provisions by the Supreme Court.