https://www.taxtmi.com/caselaws?id=56231 The Tribunal ruled in favor of the assessee, finding that the provision for warranty was justified based on actual business practices and supported by bank guarantees encashed by customers. Additionally, the Tribunal held that the method of accounting followed by the assessee, consistent with Accounting Standards, provided an accurate representation of financial results. The Tribunal concluded that the AO's rejection of the accounting method was unwarranted, directing the deletion of the added amount of Rs. 98,24,911. en-us Wed, 12 Apr 2000 00:00:00 +0530 Tue, 14 Feb 2017 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56231 The Tribunal ruled in favor of the assessee, finding that the provision for warranty was justified based on actual business practices and supported by bank guarantees encashed by customers. Additionally, the Tribunal held that the method of accounting followed by the assessee, consistent with Accounting Standards, provided an accurate representation of financial results. The Tribunal concluded that the AO's rejection of the accounting method was unwarranted, directing the deletion of the added amount of Rs. 98,24,911. Case-Laws Income Tax Wed, 12 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56231