2014 (5) TMI 195

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.... Tax Appeals raise identical question of fact and law, the same are decided by this common order. Following is the substantial question of law raised in the present Tax Appeal preferred by the Revenue challenging the order of the Income Tax Appellate Tribunal, Ahmedabad ["Tribunal" for short] dated 14th August 2013: "Whether the Appellate Tribunal has substantially erred in upholding the order o....

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.... discount resolution was limited to corporate entities only. CIT [A] noted that the resolution was passed by the Board of Directors in its meeting held on 2nd April 2007 wherein it is clearly reflected that the turnover of above Rs. 7 Crores in case of any customer would make him eligible for discount @ 2.5% on the sales, and accordingly, in case of Messrs. Bharat Pesticides Industries Private Lim....

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....ing transactions and avoidance of tax liability by so arranging the commercial affairs if the charge of tax is distributed and is not prohibited. A taxpayer may resort to a device to divert the income before it accrues or arises. We see no reason to interfere with the findings of both the authorities. In the given set of facts and circumstances, both the authorities have held that it was by arran....