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Rebate and Concession
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.... Law Dictionary, Second Edition, the meaning assigned to the word rebate is: "Discount; reducing the interest of money in consideration of prompt payment. Also a deduction from a stipulated premium on a policy of insurance, in pursuance of an antecedent contract and also a deduction or drawback from a stipulated payment, charge, or rate not taken out in advance of payment, but handed b....
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....ct which such person was not otherwise compelled." DEPUTY COMMISSIONER OF SALES TAX, SOUTH ZONE, QUILON VERSUS TRAVANCORE RAYONS LTD. - [1960 (4) TMI 61 - KERALA HIGH COURT] The common dictionary meaning of the word "concession" is "the act of yielding or conceding as to a demand or argument, something conceded; usually implying a demand, claim, or request, "a thing yielded", "a grant". In the ....