COMMISSIONER OF INCOME TAX Vs. PRINTERS

JUDGEMENT

(1.) THESE income tax appeals are directed against the order dated 29.03.2007 passed by Income Tax Appellate Tribunal (for short the Tribunal ) in ITA Nos.1094 - 1096/Bang/2006 pertaining to the Assessment years 2002 -03 to 2004 -05 whereby the Tribunal allowed all three appeals preferred by the respondent -assessee.

(2.) THE revenue, in these appeals, has raised the following substantial questions of law: Whether the Tribunal was correct in holding that the payments made to agents for procuring advertisements is a trade discount and not a commission as held by the Assessing Officer and the provisions of Chapter XVIIB are not attracted?

(3.) WE have heard learned counsel for the parties for some time and with their assistance gone through the order of the Tribunal and so also the orders passed by the authorities below. The Tribunal seem to have proceeded on the assumption that all advertising agencies with whom the respondent -assessee was dealing with, during the relevant assessment years were registered with the Indian Newspaper Society (for short INS ) under Rule 14 of the Rules and Regulations Governing Accreditation of Advertising Agencies (for short the Rules ).