https://www.taxtmi.com/caselaws?id=152597 The Court held that the "balance discount" received and paid to distributors constitutes part of the sale price of goods sold, upholding the disallowance of the turnover deduction claimed by the assessee. However, the turnover from sales of scrap material was found not exigible to tax before a specific amendment, overturning the Tribunal's decision. The Court rejected the argument that the assessee acted as an agent in relation to the discount. T.R.C. Nos. 11 and 12 were dismissed regarding the balance discount turnover but allowed for the scrap material turnover. T.R.C. No. 13, solely concerning the balance discount turnover, was also dismissed, with no costs awarded. en-us Mon, 31 Oct 1977 00:00:00 +0530 Sat, 06 Jul 2013 18:22:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152597 The Court held that the "balance discount" received and paid to distributors constitutes part of the sale price of goods sold, upholding the disallowance of the turnover deduction claimed by the assessee. However, the turnover from sales of scrap material was found not exigible to tax before a specific amendment, overturning the Tribunal's decision. The Court rejected the argument that the assessee acted as an agent in relation to the discount. T.R.C. Nos. 11 and 12 were dismissed regarding the balance discount turnover but allowed for the scrap material turnover. T.R.C. No. 13, solely concerning the balance discount turnover, was also dismissed, with no costs awarded. Case-Laws VAT and Sales Tax Mon, 31 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152597