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TMI Blog2019 (2) TMI 132X X X X Extracts X X X X X X X X Extracts X X X X ..... IR SRI. S. SHYAM KUMAR AND SRI. T. G. MADHAVANUNNI For The Respondent : SR. GOVERNMENT PLEADER SRI. V. K. SHAMSUDHEEN JUDGMENT K. Vinod Chandran, J. The question raised in the above appeal is reframed as follows: "Whether the Tribunal was correct in having applied Explanation VII to Section 2(lii) and added on the discount for the purpose of computing the turnover?" 2. An ancillary quest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee had received a discount of Rs. 4,88,354/-, which have to be added back under Explanation VII to Section 2(lii) of the Act. The Assessing Officer having found the returned taxable turnover to be Rs. 1,13,32,792/-, it was lower than the sales turnover and hence applied Explanation VII to Section 2(lii) and computed the total turnover as Rs. 1,18,46,786/- plus Rs. 4,88,354/-. 4. As far as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mohanan v. State of Kerala [OT (Rev.) No.142 of 2013] by judgment dated 12.04.2017 found that there was no provision similar to Explanation VII of Section 2(lii) of the KVAT Act, in the Karnataka enactment. The said decision was found to be inapplicable insofar as the provisions of KVAT Act. 5. The learned Counsel for the assessee would also refer to another three Judge Bench decision of the Hon' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... G.P. and the figure arrived at was Rs. 1,18,46,786/-. Hence the sale price was in excess of the purchase price. In that context, there was no requirement for an addition of the discount applying Explanation VII to Section 2(lii). Either the Assessing Officer could have added on the discount to the returned turnover or taxed the estimated turnover adding G.P. When the sales turnover is estimated af ..... X X X X Extracts X X X X X X X X Extracts X X X X
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