Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (8) TMI 488 - HC - Income TaxBusiness Expenditure under section 37 – Accrued or Contingent Liability – The Revenue is aggrieved by the order of the Tribunal wherein it is held that the provision for estimated costs of rendering warranty services debited to the profit and loss account was not a contingent liability and that the said expenditure was allowable expenditure. In this case Bombay High Court dismissed the appeal of the revenue on the basis of the decision of Supreme Court, relied by the lower authority.
|