CEGAT Chennai: Cash discounts now considered abatement from assessable value, extends benefit beyond cash buyers.

The Appellate Tribunal CEGAT, Chennai ruled in favor of the appellant, allowing cash discounts as abatement from the assessable value for prompt payment, extending the benefit beyond buyers paying in cash. The decision was grounded in precedent, and the appeal was allowed with consequential relief.

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The Appellate Tribunal CEGAT, Chennai ruled in favor of the appellant regarding the availability of abatement from the assessable value on prompt payment. The tribunal found that cash discounts should be allowed as abatement across the board, not just for buyers paying in cash. The decision was based on previous cases and the appeal was allowed with consequential relief.

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