https://www.taxtmi.com/caselaws?id=307492 The High Court dismissed the appeal under Section 260A of the Income Tax Act, 1961, for the Assessment year 2011-12. The court upheld the Tribunal's decision regarding the interpretation of provisions for warranty and its impact on tax liability, ruling in favor of the assessee. Additionally, the court agreed with the assessee's allowance of additional provisions for leave encashment and warranty for calculating book profit under Section 115JB, based on precedent from a Supreme Court case. The appeal was found to lack merit, and both substantial questions of law were decided in favor of the assessee. en-us Sat, 06 Feb 2021 00:00:00 +0530 Mon, 17 Apr 2023 21:15:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307492 The High Court dismissed the appeal under Section 260A of the Income Tax Act, 1961, for the Assessment year 2011-12. The court upheld the Tribunal's decision regarding the interpretation of provisions for warranty and its impact on tax liability, ruling in favor of the assessee. Additionally, the court agreed with the assessee's allowance of additional provisions for leave encashment and warranty for calculating book profit under Section 115JB, based on precedent from a Supreme Court case. The appeal was found to lack merit, and both substantial questions of law were decided in favor of the assessee. Case-Laws Income Tax Sat, 06 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307492