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TMI Blog2018 (5) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... evidence and proving of the fact of giving the Trade Discount by the assessee during the relevant period, so as to claim the same as a deduction from the taxable turnover - petition dismissed. - STRP NOS. 200001/2018 & 200002-200012/2018 - - - Dated:- 20-3-2018 - Dr. VINEET KOTHARI AND MR. R. DEVDAS JJ. Mr. Ameet Kumar Deshpande, Advocate for petitioner. Mr. Mallikarjun Sahukar, HCGP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ady reference:- From the Dictum of the apex court stated supra now it is clear that the transactions allowing discount have to be proved on the basis of records and the final sale price after deducting the trade discount must mandatory be reflected in the accounts as stipulated under rule 3(2)(c) of the rules. It is further emphasized that the sale / purchase price has to be adjudged on a com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee Mr. Ameet Kumar Deshpande has urged before the Court that the relevant facts and evidence were already on record and the deduction of Trade Discount from the taxable turnover was an issue covered by the judgment of the Supreme Court in the case of Southern Motors, (supra) which was required to be applied by the learned Karnataka Appellate Tribunal to the facts of the case to allow the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ading of the evidence and proving of the fact of giving the Trade Discount by the assessee during the relevant period, so as to claim the same as a deduction from the taxable turnover in terms of the Supreme Court judgment relied upon by the assessee. It goes without saying that the relevant facts have to be established before the assessing authority and the burden lies on the assessee to prove hi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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