2012 (1) TMI 422

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....Thomas Jose For the Assessee : 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....

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.... wherein it has been held that the principle 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 p....

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....ccordance with law laid down by the Hon'ble Supreme Court 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 h....