https://www.taxtmi.com/caselaws?id=276221 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal regarding the disallowance of a trade discount under Section 40A(2). It was held that Section 40A(2)(b) does not apply to trade discounts as they do not involve an expenditure but rather a reduction in selling price. Citing a relevant High Court decision, the Tribunal concluded that the disallowance made by the Assessing Officer was incorrect. Therefore, the Tribunal ruled in favor of the assessee, affirming that the trade discount should not be disallowed under Section 40A(2). en-us Fri, 23 May 2014 00:00:00 +0530 Fri, 02 Nov 2018 13:43:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276221 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal regarding the disallowance of a trade discount under Section 40A(2). It was held that Section 40A(2)(b) does not apply to trade discounts as they do not involve an expenditure but rather a reduction in selling price. Citing a relevant High Court decision, the Tribunal concluded that the disallowance made by the Assessing Officer was incorrect. Therefore, the Tribunal ruled in favor of the assessee, affirming that the trade discount should not be disallowed under Section 40A(2). Case-Laws Income Tax Fri, 23 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276221