https://www.taxtmi.com/caselaws?id=438639 The Tribunal allowed the assessee's appeal against the disallowance of provision for warranty exceeding 2.14% of sales for the Assessment Year 2016-17. Relying on the High Court's judgment in the assessee's favor for previous assessment years, the Tribunal found the AO and CIT(A)'s decisions unsustainable. The Tribunal directed the AO to grant the deduction of the provision for warranty as claimed by the assessee, setting aside the previous orders. The judgment favored the assessee based on the reliability of the provision estimate and the precedent established by the High Court's ruling. en-us Wed, 31 May 2023 00:00:00 +0530 Mon, 05 Jun 2023 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438639 The Tribunal allowed the assessee's appeal against the disallowance of provision for warranty exceeding 2.14% of sales for the Assessment Year 2016-17. Relying on the High Court's judgment in the assessee's favor for previous assessment years, the Tribunal found the AO and CIT(A)'s decisions unsustainable. The Tribunal directed the AO to grant the deduction of the provision for warranty as claimed by the assessee, setting aside the previous orders. The judgment favored the assessee based on the reliability of the provision estimate and the precedent established by the High Court's ruling. Case-Laws Income Tax Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438639