https://www.taxtmi.com/caselaws?id=157485 In the context of Tamil Nadu sales tax turnover computation, incentive discounts given by a dealer through credit notes under its regular practice were treated as deductible from total turnover. The statutory exclusion for discount allowed on the price, read with rule 5A(a), applied where the discount was part of the dealer's regular practice or contractual terms and the accounts showed the purchaser paid only the net amount after discount. The Madras HC relied on earlier Division Bench rulings and affirmed that incentive discounts forming part of the sale transaction cannot be added back to taxable turnover merely because they are granted at year-end. en-us Thu, 28 Feb 1991 00:00:00 +0530 Mon, 07 Oct 2013 10:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157485 In the context of Tamil Nadu sales tax turnover computation, incentive discounts given by a dealer through credit notes under its regular practice were treated as deductible from total turnover. The statutory exclusion for discount allowed on the price, read with rule 5A(a), applied where the discount was part of the dealer's regular practice or contractual terms and the accounts showed the purchaser paid only the net amount after discount. The Madras HC relied on earlier Division Bench rulings and affirmed that incentive discounts forming part of the sale transaction cannot be added back to taxable turnover merely because they are granted at year-end. Case-Laws VAT and Sales Tax Thu, 28 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157485