https://www.taxtmi.com/caselaws?id=457941 Customer advances were not sustained as taxable income for the assessment year because the issue was governed by binding Supreme Court authority in favour of the assessee. Warranty provision was likewise not sustained as a contingent or ad hoc liability, as binding Supreme Court authority governed its allowability. Since both proposed questions were already settled in favour of the assessee, no substantial question of law arose and no interference with the Tribunal's order was warranted. 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=457941 Customer advances were not sustained as taxable income for the assessment year because the issue was governed by binding Supreme Court authority in favour of the assessee. Warranty provision was likewise not sustained as a contingent or ad hoc liability, as binding Supreme Court authority governed its allowability. Since both proposed questions were already settled in favour of the assessee, no substantial question of law arose and no interference with the Tribunal's order was warranted. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457941