https://www.taxtmi.com/caselaws?id=35366 The Supreme Court allowed the appeal, rejecting the revenue's claims and ruling in favor of the assessee regarding the disallowance of provision for warranty for the assessment year 2002-03. The Court held that warranty provision is deductible under section 37 of the Income Tax Act if a reliable estimate of the liability can be made, citing precedents such as Rotork Controls India P. Ltd. v. CIT and CIT III v. M/s. FL Smedth Ltd. en-us Mon, 07 Dec 2009 00:00:00 +0530 Wed, 24 Feb 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35366 The Supreme Court allowed the appeal, rejecting the revenue's claims and ruling in favor of the assessee regarding the disallowance of provision for warranty for the assessment year 2002-03. The Court held that warranty provision is deductible under section 37 of the Income Tax Act if a reliable estimate of the liability can be made, citing precedents such as Rotork Controls India P. Ltd. v. CIT and CIT III v. M/s. FL Smedth Ltd. Case-Laws Income Tax Mon, 07 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35366