S.40A(2)of Income Tax Act not Applicable to Trade Discount given in Sales Invoice: ITAT [Read Order]

Income Tax Act - Trade Discount - Sales Invoice - ITAT - taxscan

The Chennai Bench of Income Tax Appellate Tribunal  (ITAT) has held that Section 40A(2) of the Income Tax Act 1961, would not be applicable to trade discounts given in sales invoices. The above-mentioned observation was made while disposing of an appeal filed by the revenue challenging the order of Commissioner of Income Tax (appeal) CIT (A)….

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader