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2022 (6) TMI 1242 - AT - Income TaxAllowability of "Provision for Warranty" - HELD THAT:- As merely because the assessee had returned back the provisions in subsequent year cannot be a basis for disallowing the assessee’s claim in the current year, particularly when the assessee had given specific basis for making warranty provisions. The Hon’ble Apex Court in case of Rotork Controls India (P) Ltd. (2009 (5) TMI 16 - SUPREME COURT] has given the criteria which are fulfilled by the assessee herein. Thus, issue is squarely covered in favour of the assessee.
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