Tyre Valuation Case: Discounts Known Before Supply Qualify for Deduction Under Applicable Regulations.

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Full Text of the Document

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....Valuation - deductions in nature of discounts - manufacture of tyres under the brand name “CEAT” on job work basis - the discounts were very much known to the parties before the supply - further, discounts are passed on to the customers and hence are eligible for deduction.....