2015 (6) TMI 937

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.... MR KM PARIKH, ADVOCATE FOR THE APPELLANT MR SN SOPARKAR SR. ADVOCATE FOR MRS SWATI SOPARKAR, ADVOCATE FOR THE RESPONDENT ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1. These Tax Appeals involve common questions on law and facts and hence, they are decided by this common judgment. For the sake of convenience, Tax Appeal No.966/2007 is taken as the lead matter. 2. Briefly ....

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....The CIT(A) disposed of the appeal vide order dated 12.06.1996 and the total income of the assessee was reduced to Rs. 4,13,250/- after giving effect to the order of the CIT(A). 5. In the meantime, on verification of the case records, it was found from the Manufacturing, Trading and Profit & Loss Accounts that an amount of Rs. 5,54,292.30 is deducted from the total receipts of the accounting per....

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....s. 7. The question of law framed in these appeals is the same. It reads as under; "Whether the ITAT was right in law and on facts in deleting the addition of Rs. 5,54,292/- made under the head provision made on account of warranty which is in the nature of contingent liability?" 8. We have heard learned counsel for both the sides and perused the record of the case. The issue involve....