2008 (10) TMI 528

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....nt, for the Appellant. Shri S.R. Prasad, SDR, for the Respondent. [Order per : B.S.V. Murthy, Member (T)]. - The appellant is challenging the decision of the Commissioner (Appeals) wherein he has not allowed the deduction of cash discount which has not been passed on by the appellant to the customers. 2. Ld. Consultant on behalf of the appellants submitted that they had collected ....

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....ember, 1998 to February, 2000. The provisions of the old Section 4 (prior to amendment made on 1-7-2000) will be applicable in this case. It is fairly well-settled law that trade discounts (by whatever name) are admissible deductions subject to the condition that the same is known prior to clearance of the goods and are passed to the buyer of the goods. In the present case even though the discount....