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2014 (3) TMI 385 - HC - Income TaxAllowability of deduction – Provision for Medi-claim made – Warranty expenses - Held that:- The decision in Rotork Controls India (P) Limited vs. Commissioner of Income Tax [2009 (5) TMI 16 - SUPREME COURT OF INDIA] followed - the claim of provision for warranty stating that with making of provision on the basis of estimated present value of contingent liability holds good during the assessment years in question qua warranty claims - the matter remitted back to the Tribunal for fresh adjudication. MAT income - Whether the tribunal was correct in holding that the provision made for doubtful debts cannot be added back for computing MAT income – Held that:- AO held that the debts is a charge to the profits which get reduced and consequently is an unascertained liability - Section 115JA has been amended vide Finance Act, 2009 with effect from 1-4-1998 - assessee does not dispute the statement made by the revenue and also agreed for remanding the matter for deciding the question in the light of the amendment – thus, matter remitted back for fresh adjudication – Decided in favour of Revenue.
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