2009 (9) TMI 603

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....section 260A of the Income-tax Act, 1961 (for short, "the Act") against the order dated November 24, 2008 of the Income-tax Appellate Tribunal, Delhi Bench-C, Delhi in I. T. A. No. 686(Del)/2008 for the assessment year 2000-01, proposing to raise the following substantial questions of law :   " I. Whether, on the facts and in the circumstances of the case, the learned Income-tax Appellate ....

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....ke apparent from record which could be rectified under section 154 of the Income-tax Act, 1961 even though the error was patent and obvious and did not involve any set of reasons ?"   2. After making assessment for the assessment year in question, the Assessing Officer passed order of rectification datedJuly 5, 2004on the ground that the assessee wrongly debited warranty claims which was u....

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....exact quantification. In such a circumstance, a provision made on reasonable basis, for example, by having regard to the facts of earlier years or the report of an expert in the matter, will be deductible in computing the income. There is no evidence on record that the provision made not of a reasonable amount. In law, such a provision is deductible in computing the income. Therefore, we are of th....