https://www.taxtmi.com/caselaws?id=367141 The High Court upheld the Tribunal's decision in favor of the respondent-assessee regarding the disallowance of provision for warranty, capitalization of marketing expenses, and disallowance on account of obsolescence. The Tribunal's reasoning based on scientific principles and mercantile basis for the provision, ownership transfer of mobile handsets, and reassessment based on net realizable value for obsolescence were accepted. The issue of addition of damaged stocks in closing stock was remanded back to the Tribunal for further consideration due to inadequate reasoning provided. en-us Fri, 31 Aug 2018 00:00:00 +0530 Sat, 15 Sep 2018 07:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367141 The High Court upheld the Tribunal's decision in favor of the respondent-assessee regarding the disallowance of provision for warranty, capitalization of marketing expenses, and disallowance on account of obsolescence. The Tribunal's reasoning based on scientific principles and mercantile basis for the provision, ownership transfer of mobile handsets, and reassessment based on net realizable value for obsolescence were accepted. The issue of addition of damaged stocks in closing stock was remanded back to the Tribunal for further consideration due to inadequate reasoning provided. Case-Laws Income Tax Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367141