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TMI Blog2010 (2) TMI 1116X X X X Extracts X X X X X X X X Extracts X X X X ..... e respondent-assessee to furnish all details in terms of rule 31 of the Rules and thereby direct the assessing authority to reconsider the entire matter in the light of the said provisions and pass fresh orders in accordance with law. Revision petition is allowed - S.T.R.P. No. 120 of 2008 & 117 of 2008 - - - Dated:- 16-2-2010 - MANJULA K.L. AND NAGARATHNA B.V. JJ. Smt. Geetha Menon, Government Advocate, for the petitioner G. Rabinathan and M. Thirumalesh for the respondent ORDER This revision petition has been filed by the State challenging the order dated February 12, 2008 passed in S.T.A.No. 413 of 2007 by the Karnataka Appellate Tribunal, Bangalore. The relevant facts of the case are that the respondent-assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... laimed reduction in the amount of tax from the total turnover of the said months. For the tax period April 2006 the respondent had declared total turnover including the exempted sales and has claimed deduction of ₹ 52,24,775 (including tax at four per cent) towards discount of taxable goods which has resulted in corresponding reduction in the taxable turnover and consequently on the tax liability of ₹ 2,08,991. The assessing authority however disallowed such discounts and levied tax by order dated January 29, 2007. An application for rectification of the said order was also rejected by the assessing authority by endorsement dated February 23, 2007. Aggrieved by the assessment order, the respondent had preferred an appeal befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atically be reduced to the extent of credit notes given to various purchasers and that the Tribunal was justified in taking note of the said fact and granting benefit with regard to reduced turnover by allowing the appeal filed by the respondent. Having heard the learned counsel for the parties and on perusal of the material on record, it is not in dispute that in terms of the incentive scheme the respondent has given to its various purchasers credit notes with the purpose of encouraging them to sell greater quantities of its products and also with regard to prompt repayment. The issuance of the credit notes would automatically mean that the amounts as mentioned in the invoices would be reduced which would result in reduction in the ove ..... X X X X Extracts X X X X X X X X Extracts X X X X
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