Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2018 Year 2018 This

Provision of warranty - accounting policy - the provisions of ...

Income Tax

November 14, 2018

Provision of warranty - accounting policy - the provisions of warranty made by the assessee company was on the basis of the scientific and consistent method - No addition could be made.

View Source

 


 

You may also like:

  1. Provision for warranty - Assessee has explained the basis for working of the provision for warranty based on past experience and it is not on adhoc basis - Claim of...

  2. Provision for Warranty - The assessee had not proved the provision of warranty expenses based on any scientific method in such circumstances - Triple test was not passed...

  3. Disallowance for warranty expenses - assessee is entitled to change the method of accounting with respect to claim of warranty expenses from ‘actual basis’ to ‘provision...

  4. Provision for warranty - assessee derived advantage by deferring its income to the extent of excess warranty provision to subsequent years. Therefore, such excess...

  5. Disallowance of provision of warranty - The provision made by the assessee was ascertained based on the actual expenses incurred on settlement of warranty schemes in...

  6. Deductible expenses u/s 37 - provisions for warranty claims - The Tribunal upheld the practice of making provisions for warranty based on a reasonable estimation method...

  7. Disallowance being provision made for warranty expenses - The assessee’s warranty provision equally lack in the proper accounting / calculating factors and, therefore,...

  8. Disallowance of Provision for Warranty - Absence of scientific method adopted by the assessee - The assessee has submitted that the period of warranty is maximum for one...

  9. Additional provision for warranty Claim - Tribunal allowed normal warranty, extended warranty, however denied additional provision for warranty on domestic sales claimed...

  10. Disallowance of provision for warranty & maintenance expenses - it was for the Revenue to have brought incriminating material/evidences to demolish the basis of...

 

Quick Updates:Latest Updates