https://www.taxtmi.com/caselaws?id=407070 The Tribunal upheld the CIT(A)'s decisions, allowing the provision for liquidated damages and warranty as deductible expenses based on reasonable estimations and past experiences. Additionally, advances and deposits written off were considered legitimate business expenses and allowed for deduction. The revenue's appeals were dismissed, and the assessee's cross-objections were accepted. The order in favor of the assessee was pronounced on 07/04/2021. en-us Wed, 07 Apr 2021 00:00:00 +0530 Fri, 30 Apr 2021 08:23:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407070 The Tribunal upheld the CIT(A)'s decisions, allowing the provision for liquidated damages and warranty as deductible expenses based on reasonable estimations and past experiences. Additionally, advances and deposits written off were considered legitimate business expenses and allowed for deduction. The revenue's appeals were dismissed, and the assessee's cross-objections were accepted. The order in favor of the assessee was pronounced on 07/04/2021. Case-Laws Income Tax Wed, 07 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407070