https://www.taxtmi.com/caselaws?id=120733 Technical fees were not disallowable under section 40(a)(i) where tax was deducted in the relevant year but deposited later, as the later amendment did not apply retrospectively; the deduction was therefore allowed. A warranty provision based on contractual obligation, past experience, and scientific estimation was treated as an ascertained business liability and allowed. Provision for doubtful debts was required to be added back in book-profit computation under section 115JA as a reserve or asset-value adjustment. Business promotion expenses were treated as entertainment expenditure and disallowed, and travel expenses of foreign technicians were disallowed for want of a proved business obligation and were treated as a shifted liability. A penalty under section 271(1)(c) was sustained for a false claim of reversal of bad-debt provision. en-us Sat, 29 Dec 2007 00:00:00 +0530 Mon, 23 Jul 2012 17:52:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120733 Technical fees were not disallowable under section 40(a)(i) where tax was deducted in the relevant year but deposited later, as the later amendment did not apply retrospectively; the deduction was therefore allowed. A warranty provision based on contractual obligation, past experience, and scientific estimation was treated as an ascertained business liability and allowed. Provision for doubtful debts was required to be added back in book-profit computation under section 115JA as a reserve or asset-value adjustment. Business promotion expenses were treated as entertainment expenditure and disallowed, and travel expenses of foreign technicians were disallowed for want of a proved business obligation and were treated as a shifted liability. A penalty under section 271(1)(c) was sustained for a false claim of reversal of bad-debt provision. Case-Laws Income Tax Sat, 29 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120733