https://www.taxtmi.com/caselaws?id=59370 The Tribunal partly allowed the assessee's appeal, directing the AO to allow the deduction for the performance warranty provision and exclude it from the book profits under Section 115JB, as it was deemed an ascertained liability. The issue of interest under Section 234D was remitted back to the AO for reconsideration. The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s deletion of the addition of preliminary and deferred revenue expenditure, affirming that the adjustment was not permissible under Section 115JB and that the assessee adhered to prescribed accounting standards. en-us Wed, 23 Jan 2008 00:00:00 +0530 Wed, 24 Jan 2024 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59370 The Tribunal partly allowed the assessee's appeal, directing the AO to allow the deduction for the performance warranty provision and exclude it from the book profits under Section 115JB, as it was deemed an ascertained liability. The issue of interest under Section 234D was remitted back to the AO for reconsideration. The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s deletion of the addition of preliminary and deferred revenue expenditure, affirming that the adjustment was not permissible under Section 115JB and that the assessee adhered to prescribed accounting standards. Case-Laws Income Tax Wed, 23 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59370