https://www.taxtmi.com/caselaws?id=235234 The Appellate Tribunal correctly held that the 'warranty liability' provision was non-deductible as it constituted an unascertained liability. The Tribunal's decision was supported by precedents such as K. A. Ramaswamy Chettiar v. CIT and Malabar Industrial Co. Ltd. v. CIT. The court dismissed the appeal against the Tribunal's decision, emphasizing that the provision did not meet the specific legal criteria outlined in Rotork Controls India P. Ltd. for allowability. The court's analysis focused on the technical nature of the provision and its lack of alignment with the Supreme Court judgment cited by the assessee, ultimately upholding the non-deductibility of the provision. en-us Mon, 18 Feb 2013 00:00:00 +0530 Tue, 16 Jul 2013 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235234 The Appellate Tribunal correctly held that the 'warranty liability' provision was non-deductible as it constituted an unascertained liability. The Tribunal's decision was supported by precedents such as K. A. Ramaswamy Chettiar v. CIT and Malabar Industrial Co. Ltd. v. CIT. The court dismissed the appeal against the Tribunal's decision, emphasizing that the provision did not meet the specific legal criteria outlined in Rotork Controls India P. Ltd. for allowability. The court's analysis focused on the technical nature of the provision and its lack of alignment with the Supreme Court judgment cited by the assessee, ultimately upholding the non-deductibility of the provision. Case-Laws Income Tax Mon, 18 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235234