1979 (10) TMI 190

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..... llowed by way of trade discount? Held that:- Appeal dismissed. The assessee effected sales of goods to its dealers and allowed a trade discount on the catalogue price to cover the expenses incurred by the dealers and permit a margin of profit to them. The dealers were required to sell the goods at the catalogue price. For the assessment years 1960-61 to 1963-64, the High Court of Kerala has hel .....

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..... ers and allowed a trade discount on the catalogue price to cover the expenses incurred by the dealers and permit a margin of profit to them. The dealers were required to sell the goods at the catalogue price. For the assessment years 1960-61 to 1963-64, the High Court of Kerala has held that the amount allowed as trade discount could not be included in the taxable turnover. It has relied on Orient .....

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