Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Provision for warranty expenses computed on basis of past experience and scientific basis is allowable. Assessee applied formula for provision though no past history was available. Claim based on formula was allowed in subsequent years. Assessee maintained accounts on accrual basis and claimed expenses were actually incurred in subsequent year. Allowability of expenses in year of payment cannot be allowed as accounts are maintained on mercantile system. Nature of expenses being business cannot be lost. Actual incurrence proves provision computed on formula is correct. Supreme Court held provision for warranty on sophisticated goods is deductible u/s 37 if defects existed. Assessee demonstrated defects occurred and rectified during warranty period. Impugned expenses to be allowed after verifying actual incurrence during unexpired warranty period.
Provision for warranty expenses computed on basis of past experience and scientific basis is allowable. Assessee applied formula for provision though no past history was available. Claim based on formula was allowed in subsequent years. Assessee maintained accounts on accrual basis and claimed expenses were actually incurred in subsequent year. Allowability of expenses in year of payment cannot be allowed as accounts are maintained on mercantile system. Nature of expenses being business cannot be lost. Actual incurrence proves provision computed on formula is correct. Supreme Court held provision for warranty on sophisticated goods is deductible u/s 37 if defects existed. Assessee demonstrated defects occurred and rectified during warranty period. Impugned expenses to be allowed after verifying actual incurrence during unexpired warranty period.
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