ITAT allows trade incentive/Discount/issuance of free handsets to distributor as business expense

Nokia India Pvt. Ltd. Vs ACIT (ITAT Delhi) Conclusion: In present facts of the case, the Hon’ble Tribunal observed trade incentive to distributor, trade discounts and issuance of handsets on Free of Cost as business expense. Facts: The assessee company filed its return of income on 30.11.2013 declaring total income at Rs.5,35,77,93,880/-. Later, the return was revised and the income was declared at Rs.5,40,57,47,930/-. The case was selected for scrutiny through CASS and the assessment was framed vide order dated 30.08.2017 u/s 143(3) r.w.s 144C of the Act. The Assessing Officer noticed that ...