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2014 (4) TMI 19 - AT - Income TaxAllowability of Turnover discount and Service discount – genuineness of discount - Held that:- CIT(A) held that the terms and conditions submitted by the Assessee does not inspire any confidence and has no mark of genuineness - the Assessee has not brought any material on record to show as to how Mak Pump Industries failed to qualify for discount whereas M/s Jai Balaji succeeded in getting discount - assessee could not bring any material on record to controvert the findings of AO and CIT(A) - the Assessee has not produced any evidence to show that the discounts which were allowed to Jai Balaji was also allowed to other parties in the past or in subsequent years - CIT(A) has held the expenses to be non-genuine and there is no reason to interfere in the findings of the CIT(A) – Decided against Assessee.
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