https://www.taxtmi.com/caselaws?id=35327 The Tribunal upheld the deduction of the provision for warranty expenses as an accrued liability, not contingent, under Section 145 of the Income Tax Act. The provision was deemed rational and scientific but limited to sales made during the current year, resulting in an allowable deduction of Rs 20,93,674 after adjustments. The decision was based on legal precedent, confirming the provision's deductibility and dismissing the Revenue's appeal. en-us Tue, 19 Jan 2010 00:00:00 +0530 Thu, 31 Jan 2013 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35327 The Tribunal upheld the deduction of the provision for warranty expenses as an accrued liability, not contingent, under Section 145 of the Income Tax Act. The provision was deemed rational and scientific but limited to sales made during the current year, resulting in an allowable deduction of Rs 20,93,674 after adjustments. The decision was based on legal precedent, confirming the provision's deductibility and dismissing the Revenue's appeal. Case-Laws Income Tax Tue, 19 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35327