https://www.taxtmi.com/caselaws?id=286702 Royalty transfer-pricing adjustment was deleted because the same effective royalty rate controversy had already been resolved in the assessee's favour on identical facts. Provision for slow-moving or obsolete stock was not allowable in normal computation or MAT because the assessee did not show an actual reduction in inventory value, while a scientifically computed warranty provision was treated as an ascertained liability and allowed. Deduction for tax-deducted payments and reversal of an earlier provision was permitted even without a revised return. Amounts written back as bad debts, advances, and stock-related provisions were not deductible in book profit under section 115JB because the assessee failed to show that the corresponding amounts had already been adjusted in earlier MAT computations or that inventory had been properly reduced. en-us Wed, 29 Aug 2018 00:00:00 +0530 Thu, 12 Mar 2020 07:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286702 Royalty transfer-pricing adjustment was deleted because the same effective royalty rate controversy had already been resolved in the assessee's favour on identical facts. Provision for slow-moving or obsolete stock was not allowable in normal computation or MAT because the assessee did not show an actual reduction in inventory value, while a scientifically computed warranty provision was treated as an ascertained liability and allowed. Deduction for tax-deducted payments and reversal of an earlier provision was permitted even without a revised return. Amounts written back as bad debts, advances, and stock-related provisions were not deductible in book profit under section 115JB because the assessee failed to show that the corresponding amounts had already been adjusted in earlier MAT computations or that inventory had been properly reduced. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286702