https://www.taxtmi.com/caselaws?id=457943 Advances from customers were held not taxable in the assessment year under challenge because the issue was covered by Taparia Tools Ltd., and the Tribunal's deletion of the addition was left undisturbed. The provision for warranty was also not sustained as an addition because the issue was governed by Rotork Controls India (P.) Ltd., and the Tribunal's view that the liability was contingent or not ascertained was accepted. Both issues were treated as covered by binding Supreme Court precedent, so no substantial question of law arose and the Tribunal's order deleting the additions remained intact. en-us Thu, 27 Jul 2023 00:00:00 +0530 Mon, 30 Sep 2024 20:24:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457943 Advances from customers were held not taxable in the assessment year under challenge because the issue was covered by Taparia Tools Ltd., and the Tribunal's deletion of the addition was left undisturbed. The provision for warranty was also not sustained as an addition because the issue was governed by Rotork Controls India (P.) Ltd., and the Tribunal's view that the liability was contingent or not ascertained was accepted. Both issues were treated as covered by binding Supreme Court precedent, so no substantial question of law arose and the Tribunal's order deleting the additions remained intact. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457943