https://www.taxtmi.com/caselaws?id=201857 The Income-tax Appellate Tribunal upheld the deletion of an addition to the book profit under section 115JA for the assessment year 2000-01. The Tribunal found that the provision for warranty claims was debited on an accrual basis as per accounting principles, making it a deductible liability even if not quantifiable exactly. As the provision was made on a reasonable basis, the court concluded there was no mistake apparent from the record justifying rectification under section 154 of the Income-tax Act, 1961. The appeal was dismissed as the issue was deemed debatable and no substantial question of law arose. en-us Wed, 02 Sep 2009 00:00:00 +0530 Sat, 29 Dec 2012 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201857 The Income-tax Appellate Tribunal upheld the deletion of an addition to the book profit under section 115JA for the assessment year 2000-01. The Tribunal found that the provision for warranty claims was debited on an accrual basis as per accounting principles, making it a deductible liability even if not quantifiable exactly. As the provision was made on a reasonable basis, the court concluded there was no mistake apparent from the record justifying rectification under section 154 of the Income-tax Act, 1961. The appeal was dismissed as the issue was deemed debatable and no substantial question of law arose. Case-Laws Income Tax Wed, 02 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201857