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The High Court held that the Tribunal was justified in law in allowing the discount. The Tribunal, after examining the record, found that while the original agreement of 1987-88 did not contain a stipulation for discount, a subsequent understanding was reached on 29.8.1990, and a discount of Rs. 48,25,270/- was granted for subsequent years. The Tribunal considered various documents, including supplementary agreements, minutes of meetings referencing discount, a comparative chart of financial conditions, and a decrease in the quantity of drinks lifted. It concluded that even in the absence of a specific written agreement in exact terms, the available documents and circumstances indicated a genuine agreement for granting the discount. The Court found the Tribunal's assessment to be reasonable and based on due appreciation of facts and circumstances, warranting no interference. The substantial question of law was answered in favor of the assessee.
