https://www.taxtmi.com/caselaws?id=360067 The Tribunal partially allowed the appeal of the assessee, directing the Assessing Officer to reexamine the provision for warranty expenses based on technical estimates. The Tribunal set aside the disallowance, emphasizing the provision as an ascertained liability. The grounds related to the levy of interest under section 234C and penalty proceedings under section 271(1)(c) were dismissed as premature and consequential. The Tribunal also instructed the reexamination of the claim for credit of taxes deducted at source and advance tax paid, emphasizing the need for supporting evidence. en-us Mon, 07 May 2018 00:00:00 +0530 Wed, 09 May 2018 08:36:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360067 The Tribunal partially allowed the appeal of the assessee, directing the Assessing Officer to reexamine the provision for warranty expenses based on technical estimates. The Tribunal set aside the disallowance, emphasizing the provision as an ascertained liability. The grounds related to the levy of interest under section 234C and penalty proceedings under section 271(1)(c) were dismissed as premature and consequential. The Tribunal also instructed the reexamination of the claim for credit of taxes deducted at source and advance tax paid, emphasizing the need for supporting evidence. Case-Laws Income Tax Mon, 07 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360067