Case Law Details
Case Name : Southern Motors Vs State of Karnataka & Ors. (Supreme Court of India)
Related Assessment Year :
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Southern Motors Vs State of Karnataka & Ors. (Supreme Court of India)
We are sharing with you an important judgment of the Hon’ble Supreme Court of India in the case of Southern Motors Vs. State of Karnataka {[2017] 77 taxmann.com 251 (SC)} on the following issue:
Issue:
Whether the post sale discounts granted by the assessee by issuing credit notes are eligible for deduction from total turnover to quantify their taxable turnover?
Facts & Background:
M/s Southern Motors (“the Appellant” or “the Company”) is a dealer in motor vehicles and registered under the Karnataka ...
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Author Bio
SUPPOSE I AM A CO. AND I PURCHASED MATERIAL AND AT THE TIME OF PAYMENT I RECEIVED CASH DISCOUNT. SHOULD I SHOW THIS AS MY INCOME AND INCLUDED THIS IS TOTAL TAXABLE TURNOVER WHICH WOULD SHOWN IN IT
SUPPOSE I AM A CO. AND I PURCHASED MATERIAL AND AT THE TIME OF PAYMENT I REVEIVED CASH DISCOUNT. SHOULD I SHOW THIS AS MY INCOME AND INCLUDED THIS IS TOTAL TAXABLE TURNOVER WHICH WOULD SHOWN IN IT