2011 (7) TMI 1246

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.... Sr. A.R. ORDER: Per V. Durga Rao, J.M: This appeal preferred by the assessee is directed against the order dated 4th March, 2010 passed by the Ld. CIT (A)-5 for the Assessment Year 2006-2007. 2. The issue involved in this appeal is whether provision for warranty is allowable u/s 37(1) of the I.T Act or not. In this regard the Assessing Officer has observed that the assessee had made a....

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....e learned D.R fairly contended that the issue is covered in favour of the assessee. The Tribunal for A.Y. 2005-06 in the assessee's own case considered the issue and upheld as under: "We have perused the records and considered the rival contentions carefully. The assessee who is a manufacturer of automotive components had been issuing warranty at the sale of the product for removal of def....