Supreme Paradise Vs Assistant Commissioner
Date: January 9, 2024
Subject Matter
If a subsidy by a third party is directly linked to a discount offered on a supply, the value of such subsidy will be included in the "transaction value"
Summary
The Madras High Court held that in cases where a subsidy by a third party is directly linked to a discount offered on a supply, the value of such subsidy will be included in the “transaction value” of the supply. It was further clarified…
FULL TEXT OF THE JUDGMENT/ORDER OF MADRAS HIGH COURT By this common order, all the five Writ Petitions are being disposed. 2. In all these writ petitions, the writ petitioners have challenged the impugned assessment year for the following years: S. No. W.P.-Nos. Assess-ment Years Tax Demanded Penalties imposed Interest 1. 13424 of 2023 2017-18 Rs.72,52,140/- Rs.72,52,140/- Rs.57,76,330/- 2. 13427…