https://www.taxtmi.com/caselaws?id=336710 The Tribunal allowed both appeals of the assessee, holding that the provision made for warranty was a legitimate deduction and complied with accepted accounting practices as per the Supreme Court's decision in Rotork Controls India P. Ltd. Vs. CIT. The Tribunal directed the Assessing Officer to allow the deduction on account of the provision for warranty made by the assessee, overturning the disallowance by the Disputes Resolution Panel and CIT(A). en-us Fri, 23 Dec 2016 00:00:00 +0530 Tue, 27 Dec 2016 19:12:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336710 The Tribunal allowed both appeals of the assessee, holding that the provision made for warranty was a legitimate deduction and complied with accepted accounting practices as per the Supreme Court's decision in Rotork Controls India P. Ltd. Vs. CIT. The Tribunal directed the Assessing Officer to allow the deduction on account of the provision for warranty made by the assessee, overturning the disallowance by the Disputes Resolution Panel and CIT(A). Case-Laws Income Tax Fri, 23 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336710