https://www.taxtmi.com/caselaws?id=247268 The High Court upheld the decisions of the CIT [A] and the Tribunal in a Tax Appeal case where the Revenue challenged the disallowance of a trade discount given to a sister concern. The Court found the discount to be a legitimate trading transaction, not constituting tax evasion or causing revenue loss. Emphasizing the legality of structuring transactions to minimize tax liability, the Court dismissed the appeal due to the absence of legal grounds for interference, based on factual and legal findings of lower authorities. en-us Mon, 10 Mar 2014 00:00:00 +0530 Wed, 07 May 2014 09:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247268 The High Court upheld the decisions of the CIT [A] and the Tribunal in a Tax Appeal case where the Revenue challenged the disallowance of a trade discount given to a sister concern. The Court found the discount to be a legitimate trading transaction, not constituting tax evasion or causing revenue loss. Emphasizing the legality of structuring transactions to minimize tax liability, the Court dismissed the appeal due to the absence of legal grounds for interference, based on factual and legal findings of lower authorities. Case-Laws Income Tax Mon, 10 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247268