https://www.taxtmi.com/caselaws?id=386903 The Tribunal upheld the decision of the Ld. CIT(Appeals) to allow the provision for warranty, based on the scientific estimation of provisions and supported by judicial pronouncements. The Tribunal found the provisions created and utilized for warranty claims to be close and dismissed the Revenue's appeal, affirming the relief granted to the assessee. The interpretation of judicial pronouncements emphasized the full allowance of provisions for warranty when estimated scientifically, starting from the point of sale. en-us Mon, 05 Aug 2019 00:00:00 +0530 Fri, 11 Oct 2019 13:03:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386903 The Tribunal upheld the decision of the Ld. CIT(Appeals) to allow the provision for warranty, based on the scientific estimation of provisions and supported by judicial pronouncements. The Tribunal found the provisions created and utilized for warranty claims to be close and dismissed the Revenue's appeal, affirming the relief granted to the assessee. The interpretation of judicial pronouncements emphasized the full allowance of provisions for warranty when estimated scientifically, starting from the point of sale. Case-Laws Income Tax Mon, 05 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386903