https://www.taxtmi.com/caselaws?id=429501 The High Court allowed the appeals in favor of the appellant, ruling against the Revenue without imposing costs. The Court emphasized the importance of matching warranty costs with relevant revenue, considering the appellant's past warranty expenses and provision for new products, in line with the Rotork Controls case. The decision overturned the Income Tax Appellate Tribunal's reversal of the Commissioner of Income Tax (Appeals) order, noting the appellant's business experience and justifications for the provision made. en-us Fri, 14 Oct 2022 00:00:00 +0530 Sat, 29 Oct 2022 09:20:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429501 The High Court allowed the appeals in favor of the appellant, ruling against the Revenue without imposing costs. The Court emphasized the importance of matching warranty costs with relevant revenue, considering the appellant's past warranty expenses and provision for new products, in line with the Rotork Controls case. The decision overturned the Income Tax Appellate Tribunal's reversal of the Commissioner of Income Tax (Appeals) order, noting the appellant's business experience and justifications for the provision made. Case-Laws Income Tax Fri, 14 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429501