https://www.taxtmi.com/caselaws?id=206165 Warranty provisions based on actuarial or scientific reassessment of existing contractual obligations under the mercantile system constitute accrued, ascertained business liabilities and are deductible; the warranty disallowance was deleted. Royalty expenditure subject to tax deduction at source is deductible only in the year in which the royalty accrued and tax was deducted, even where the deducted tax was remitted within the prescribed time in a later year; deduction could not be shifted to that later year. Relief was therefore available for the warranty provision but not for the royalty claim in the relevant assessment year. en-us Mon, 24 Jan 2011 00:00:00 +0530 Mon, 17 Oct 2011 00:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206165 Warranty provisions based on actuarial or scientific reassessment of existing contractual obligations under the mercantile system constitute accrued, ascertained business liabilities and are deductible; the warranty disallowance was deleted. Royalty expenditure subject to tax deduction at source is deductible only in the year in which the royalty accrued and tax was deducted, even where the deducted tax was remitted within the prescribed time in a later year; deduction could not be shifted to that later year. Relief was therefore available for the warranty provision but not for the royalty claim in the relevant assessment year. Case-Laws Income Tax Mon, 24 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206165