Trade discount linked to an earlier year cannot be excluded from the current year's turnover.

Trade discount paid in an earlier assessment year could not be excluded from the turnover of the relevant assessment year because the discount did not pertain to that year. The claim for exclusion therefore failed on the basis of temporal mismatch between the deduction claimed and the year to which the discount related. Relief, if any, was left to be pursued before the assessing authority in relation to the earlier assessment year, and no interference with rejection of the claim was warranted.

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Issues: Whether the trade discount relating to an earlier assessment year could be excluded from the turnover of the relevant assessment year.

Analysis: The disputed discount did not pertain to the assessment year in question but had been paid in an earlier year. On that footing, the claim for exclusion from the turnover of the relevant year could not succeed. The Tribunal's observation left open the assessee's remedy before the assessing authority to seek relief in relation to the earlier assessment year.

Conclusion: The claim for exclusion of the trade discount from the turnover of the relevant assessment year was rightly rejected, and interference was not warranted.

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