2018 (11) TMI 1877

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....rties. Case file perused. 2. The Revenue's sole substantive ground pleaded in the instant appeal seeks to revive the Assessing Officer's action disallowing / adding this taxpayer's discount and brokerage claim of Rs.21,83,16,311/- during the course of assessment as reversed in lower appellate proceedings as follows:- "Decision: In this case the AO has made the addition on the ground that discounts offered by the assessee have been netted from the sales so there cannot be an admissible claim for additional discount. It is the contention of the AO that once the discount has been deducted from the gross sales the assessee cannot claim further discount under the accounting head "Brokerage and Discount". Accordingly, the order post s....

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....(193 ITR 321), wherein it observed s follows: 'Where a fundamental aspect permeating through the different assessment years has been found as a fact one way or the other and the parties have allowed that position to be sustained by not challenging the order, it would not be at all appropriate to allow the position to be changed in a subsequent year.' It was also submitted that on same set of facts that the order passed u/s.263 by the CIT in A.Yr. 2011-12 has been set aside by the Hon'ble ITAT. Trade discount is offered upfront on sales. I have gone through the sample bill submitted by the A/R of the assessee, in the case of Eastern Tyre Corporation,, wherein the invoice amount is Rs. 416680/- on which trade discount is....