https://www.taxtmi.com/caselaws?id=276522 The Tribunal allowed the appeal filed by the assessee concerning the disallowance of provision for warranty, holding that the provision was an ascertained liability and should not be disallowed. Regarding the exclusion of interest income for deduction under Section 80-IB, the Tribunal ruled that the interest income from LC Margin Money Deposits should be treated as business income but remanded the issue back to the AO for verification. The appeal was allowed for statistical purposes, with specific directions for reassessment of interest income. en-us Fri, 25 Feb 2011 00:00:00 +0530 Tue, 25 Apr 2023 09:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276522 The Tribunal allowed the appeal filed by the assessee concerning the disallowance of provision for warranty, holding that the provision was an ascertained liability and should not be disallowed. Regarding the exclusion of interest income for deduction under Section 80-IB, the Tribunal ruled that the interest income from LC Margin Money Deposits should be treated as business income but remanded the issue back to the AO for verification. The appeal was allowed for statistical purposes, with specific directions for reassessment of interest income. Case-Laws Income Tax Fri, 25 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276522