Tribunal held that discounts paid to customers/ultimate consumers who purchased medicines sold by assessee through its C & F agents has direct bearing on potential turnover of company-expense would fall within expression ‘wholly and exclusively’ for purpose of business- hence allowable as business expenditure . ( AY. 2009-10 )
Aditya Medisales Ltd. v. DCIT (2019) 176 ITD 783 (Ahd.)(Trib.)
S. 37(1) : Business expenditure-Discounts to customers who purchases the medicine from C& F agents-Direct bearing on potential turnover of company-expense would fall within expression wholly and exclusively for purpose of business- Allowable as business expenditure.