https://www.taxtmi.com/caselaws?id=293587 The High Court of Karnataka, in an appeal under section 260-A of the Income Tax Act 1961, ruled in favor of the assessee regarding the deductibility of a provision for warranty based on estimate as a deductible expense. The court relied on a previous judgment by a Division Bench that had decided a similar issue in favor of the assessee. Following the precedent set by the earlier ruling, the court held that the provision was indeed deductible, ultimately disposing of the appeal in favor of the assessee and against the revenue. en-us Fri, 09 Jan 2009 00:00:00 +0530 Fri, 19 Feb 2021 15:11:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293587 The High Court of Karnataka, in an appeal under section 260-A of the Income Tax Act 1961, ruled in favor of the assessee regarding the deductibility of a provision for warranty based on estimate as a deductible expense. The court relied on a previous judgment by a Division Bench that had decided a similar issue in favor of the assessee. Following the precedent set by the earlier ruling, the court held that the provision was indeed deductible, ultimately disposing of the appeal in favor of the assessee and against the revenue. Case-Laws Income Tax Fri, 09 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293587