https://www.taxtmi.com/caselaws?id=362292 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to allow the deduction for warranty expenses claimed by the company for the Assessment Year 2004-05. The Tribunal found that the provision for warranty was made in accordance with accounting standards and commercial practices, following past claims and unspent provisions from previous years. It cited relevant case law and previous judgments supporting the deduction of warranty expenses under section 37 of the Income Tax Act. The Tribunal dismissed the Revenue's appeal, affirming the deletion of the disallowance of warranty expenses. en-us Wed, 20 Jun 2018 00:00:00 +0530 Fri, 22 Jun 2018 09:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362292 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to allow the deduction for warranty expenses claimed by the company for the Assessment Year 2004-05. The Tribunal found that the provision for warranty was made in accordance with accounting standards and commercial practices, following past claims and unspent provisions from previous years. It cited relevant case law and previous judgments supporting the deduction of warranty expenses under section 37 of the Income Tax Act. The Tribunal dismissed the Revenue's appeal, affirming the deletion of the disallowance of warranty expenses. Case-Laws Income Tax Wed, 20 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362292