https://www.taxtmi.com/caselaws?id=371702 The Court affirmed that the warranty provision was an ascertained liability and allowed as a deduction under Section 115JB of the Income Tax Act, 1961. The Tax Appeal was dismissed as no legal question arose from the Tribunal's decision. The judgment extensively analyzed the treatment of warranty provisions, emphasizing that provisions for certain liabilities, including warranty, were not to be added when computing book profit under Section 115JB. The decision aligned with previous rulings and provided a thorough examination of relevant legal principles and case law. en-us Tue, 04 Dec 2018 00:00:00 +0530 Fri, 07 Dec 2018 21:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371702 The Court affirmed that the warranty provision was an ascertained liability and allowed as a deduction under Section 115JB of the Income Tax Act, 1961. The Tax Appeal was dismissed as no legal question arose from the Tribunal's decision. The judgment extensively analyzed the treatment of warranty provisions, emphasizing that provisions for certain liabilities, including warranty, were not to be added when computing book profit under Section 115JB. The decision aligned with previous rulings and provided a thorough examination of relevant legal principles and case law. Case-Laws Income Tax Tue, 04 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371702