2009 (6) TMI 948

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....ised in the connected revisions filed by the petitioner for the assessment years 2001-02 and 2002-03 is whether the Tribunal was justified in not considering the petitioner's claim for deduction of discount in the determination of taxable turnover. We have heard counsel appearing for the petitioner and Government Pleader appearing for the respondent. On going through the order of the Tri....

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.... the amount after adding the same amount. We notice that none of the authorities below has considered the nature of discount claimed by the petitioner in the revised return filed and it's eligibility for deduction. Rule 9(a), relevant for the assessment years in question, is as follows: 9.. Determination of taxable turnover.-In determining the taxable turnover, the amounts specified in t....

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....the deduction towards discount. The petitioner is a manufacturer engaged in supply of goods in wholesale to distributors and dealers. Sales are therefore first sales and discount if any given can only be trade margin to dealers. If tax is not to be charged on the dealer margin, then discount should be given in the invoice itself. If the petitioner has made sales in this way, then necessarily deduc....