TaxTMI 
TaxTMI 
2012 (1) TMI 422
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....ee : Shri Sanjay Mehta ORDER PER P MADHAVI DEVI, JUDICIAL MEMBER : This appeal is filed by the Revenue. The appeal is directed against the order of the Commissioner of Income-tax (Appeals) - I at Bangalore dated 13.1.2011. The appeal arises out of the assessment completed u/s 143(3) of the Income-tax Act, 1961. 2. In this appeal, the Revenue is aggrieved by the order of the CIT(A) in deleti....
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....rinciple of estimation of the contingent liability is not the normal rule and it would depend on the nature of the business, the nature of sales, the nature of product manufactured and sold and the scientific method of accounting adopted by the assessee and also upon the historical trend and upon the number of articles produced and that it was also held that a provision is a liability which can be....
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....t in the case of Rotork Controls (I) Pvt. Ltd cited (Supra). 5. The learned counsel for the assessee however placed reliance upon the order of the CIT(A) and also decision of the Tribunal in the assessee's own case for the assessment year 2003-04 and 2005-06, wherein the provision has been allowed. 6. Having heard both the parties and having considered the rival contentions, we find that this is....