1997 (3) TMI 98

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Advocate (P.H. Parekh, Krishna Srinivasan and E.R. Kumar, Advocates, with him) for the appellant. N.K. Bajpayee, R.S. Rana and V.K. Verma, Advocates, for the respondent. [Order]. - Heard the Counsel for the parties. 2. Two questions arise in these appeals namely;- (1) deductibility of turnover discount and (2) additional discount. 3. So far as the additional discount is concerned .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... April, 1988 to March, 1989) Applicable for the Dealers covered by : Delhi City Turnover slabs on Gross value Turnover Discount on Gross value Above Upto - 4.20 Nil 4.20 8.50 2.0% 8.50 12.00 3.0% 12.00 18.70 4.0% 18.70 24.80 5.0% 5. The po .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... given ad hoc on the basis of the previous year's performance and it is adjusted at the end of the year. If the volume of purchases falls to a lesser slab, the dealer has to refund to the assessee the difference amount and conversely if the volume ascends to the higher slab, the dealer will be paid the difference amount. This is a case of adjustment and is not hit by the words'' (such discount not .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X