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

  2. 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...

  3. 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...

  4. 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...

  5. Disallowance of warranty provision - It is not known whether the increase in sales was result of selling of computers or other items - scientific data is not available -...

  6. 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...

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

  9. Provision for warranty expenses - contingent liability - there has been no material placed before the AO to establish that the provision in the accounts for the warranty...

  10. The provision for warranty claims and free services charges were allowable as deduction on the facts that quantification of warranty claim and liability of free services...

 

Quick Updates:Latest Updates