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2012 (12) TMI 253 - AT - Income TaxProvision of warranty expenses - held that:- Provisions for warranty charges is not a contingent liability and is deductible in computation of taxable income. It is an accrued liability - no infirmity in the order of CIT(A), on the issue of warranty provisions. - Decision in CIT vs. Vinitec Corporation Pvt. Ltd.[2005 (5) TMI 54 - DELHI HIGH COURT] followed - In the result, department’s appeal is dismissed.
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