1993 (3) TMI 311 - SCH - VAT and Sales Tax

Was the Appellate Tribunal justified in law in holding that trade discount allowed by the assessee to their customers is not the part of the sale price within the meaning of section 2(h) of the Central Sales Tax Act 1956 and so not includible in the taxable turnover? Was the Appellate Tribunal justified in law in directing the deletion of the amounts of trade discount from the taxable turnover of the assessee for all or any of the reasons stated by it? Held that - Appeal dismissed. High Court answered the questions against the Revenue and in favour of the assessee

Summary

The Supreme Court dismissed the appeals regarding trade discount not being part of the sale price for taxable turnover, in line with a previous judgment in Deputy Commissioner of Sales Tax v. Advani Oerlikon. No costs were awarded.