2018 (11) TMI 1877

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....udicial Member:- This Revenue's appeal for assessment year 2008-09 arises from the Commissioner of Income Tax (Appeals)-17, Kolkata's order dated 07.03.2017, passed in case No.226/CIT(A)-17/Kol/15-16, in proceedings u/s. 147/154/251/143(3) of the Income Tax Act, 1961; in short 'the Act'. Heard both the parties. Case file perused. 2. The Revenue's sole substantive ground pleaded in the instant ap....

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....y the AO. I have gone through the submissions of the assessee and the findings of the AO carefully. It has been submitted that the assessee offers upfront discount at the time of the sales which is called trade discount. The sales are reported net of trade discount. The other discounts offered by the assessee which are mostly the post-sale are: (a) Turn over discount (b) prompt payment disco....

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....y, reliance was placed on the decision of the Apex Court in the case of Radhasoami Satsang vs. CIT (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 al....

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....30-32 days. Turnover discou9ntof 1.5% is offered if the dealer of the assessee exceed the net billing limit by 3-4 times. Moreover, on identical facts the claim of the assessee in the A.Yr. 2005-06 to 2007-08 in scrutiny assessments passed under section 143(3). The AO has not brought any new material facts on record which would necessitate a change in the stand taken as regard the accounting metho....