https://www.taxtmi.com/caselaws?id=181249 The Revenue's appeal against the CIT(A) order for the assessment year 2001-02 regarding the penalty on the provision for warranty expenses was dismissed. The Tribunal allowed a deduction for actual expenses incurred, finding the assessee's provision based on technical estimates reasonable. The Tribunal noted the year-wise provision and actual expenses, concluding no concealment of income. The CIT(A)'s deletion of the penalty was upheld as the Tribunal's decision was based on the absence of concealment, rendering Section 271(1)(c) inapplicable. en-us Fri, 23 Apr 2010 00:00:00 +0530 Mon, 11 Apr 2016 17:56:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181249 The Revenue's appeal against the CIT(A) order for the assessment year 2001-02 regarding the penalty on the provision for warranty expenses was dismissed. The Tribunal allowed a deduction for actual expenses incurred, finding the assessee's provision based on technical estimates reasonable. The Tribunal noted the year-wise provision and actual expenses, concluding no concealment of income. The CIT(A)'s deletion of the penalty was upheld as the Tribunal's decision was based on the absence of concealment, rendering Section 271(1)(c) inapplicable. Case-Laws Income Tax Fri, 23 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181249