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2012 (2) TMI 493 - HC - Income TaxAddition of provision for warranty for the purposes of computation of income - Whether provision for future warranty expenses is contingent liability or allowable under section 37 - ITAT directing the AO to exclude the ?provision for warranty while computing book profits under section 115 JB - Decided in favour of assessee Foreign exchange fluctuation loss - ITAT deleting the addition on account of enhanced WDV of fixed assets as a result of foreign exchange fluctuation - Decided in favour of assessee Section 234D is applicable with effect from the assessment year 2004-05 and not applicable to the earlier assessment years. Advertisement and sales promotion expenses allowed Claim of deduction on account of advertisement and publicity expenses in all the three assessment years allowed Including the foreign exchange gain in the profits eligible for deduction under section 10A/10B
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