2019 (3) TMI 1354

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....nd carefully perused the relevant material placed on the record of Tribunal, inter alia, relevant appeal record and the order of the Tribunal under challenge. 3. Ld. Authorised Representative of the assessee (AR) submitted that in the order of the Tribunal at para 5, it has been noted that the arguments of the assessee were noted but the same were not accepted without any reason and the Tribunal has ignored the rule of consistency which has also been ignored by the authorities below, therefore, part disallowance upheld by the Tribunal may kindly be deleted. Ld. AR submitted that the decision of the coordinate bench was cited before the Tribunal, however, the Tribunal has not considered it by mistake, therefore, the Tribunal has to rectif....

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....le on record. In the instant case, the assessee claimed Rs. 37,39,496/- in the profit and loss account under the head discount and commission. The AO observed that the said amount was comprised of Rs. 21,98,563/- credit notes and Rs. 15,40,933.22 cash discount. The AO observed from the sale bill that the assessee has accounted for net sale i.e. sales after discount only as it sales. Thus, the discount allowed has already been reduced from sales. The AO, therefore, in absence of any evidence of further cash discount given by the assessee disallowed the claim of the assessee of Rs. 15,40,933.22. In appeal before the CIT(A), the CIT(A) required the assessee to file details on discount invoice-wise and before him the assessee expressed....

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.... of Rs. 6,94,944.74 as cash discount and confirm the balance disallowance of Rs. 8,43,988.48." From careful reading of the above order of the Tribunal, I clearly find that the Tribunal has considered the contentions and arguments of the assessee and has also considered the net profit shown by the assessee during preceding and in the year under consideration. I also observe that the assessee, before ld. CIT(A) expressed her inability to furnish the details on discount invoice-wise, which resulted into confirmation of disallowance by the first appellate authority. From paras 8 & 9, I clearly observe that the Tribunal has taken a lenient view as the part amount of cash discount @1% of total turnover has been allowed to the assessee and bala....