https://www.taxtmi.com/caselaws?id=270458 The Tribunal directed the Assessing Officer to delete the disallowance of discounts amounting to Rs. 18,61,507. The Assessee's appeal was allowed, emphasizing the Assessee's authority in business decisions and lack of evidence to question the discounts' genuineness. The judgment underscores the need for evidence to substantiate claims, common business practices of offering discounts, and the Revenue's burden to prove transactions as not genuine before disallowing them. en-us Fri, 13 Nov 2015 00:00:00 +0530 Wed, 06 Jan 2016 23:44:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270458 The Tribunal directed the Assessing Officer to delete the disallowance of discounts amounting to Rs. 18,61,507. The Assessee's appeal was allowed, emphasizing the Assessee's authority in business decisions and lack of evidence to question the discounts' genuineness. The judgment underscores the need for evidence to substantiate claims, common business practices of offering discounts, and the Revenue's burden to prove transactions as not genuine before disallowing them. Case-Laws Income Tax Fri, 13 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270458