Bhagwati Trading Company Ltd. vs Commissioner Of Income-Tax on 4 December, 1974
Appearance
Ms. J. Ragini, Adv.,
For the applicant
Shri S. Govindarajan, AC (AR)
For the respondent
CORAM
Honble Shri D.N. PANDA, Judicial Member
Honble Shri MADHU MOHAN DAMODHAR, Technical Member
Date of Hearing/Decision: 19.12.2016
FINAL ORDER No. 42452 / 2016
Per: D.N. Panda
The precise question involved in this appeal is whether the discount/incentives received by the appellant from Container Freight Stations (CFS) shall form part of the assessable value of the considerations received. Since the character of the receipts is at par with the reimbursement of expenses and taxability of reimbursement issue is pending disposal before the Apex Court on the question as to whether reimbursement shall form part of the assessable value, it is considered proper to send the matter back to the ld. Adjudicating authority to dispose the same in the light of the Apex Court judgment that may come up in the case of Bhagwati Trading Company Vs. Commissioner 2015 (325) ELT A163 (S.C.) .