Disallowance of Provision for Warranty - Absence of scientific ...

Warranty Provision Disallowed Due to Lack of Scientific Method; AO to Verify Unutilized Provisions for Taxation.

August 11, 2023

Case Laws Income Tax AT

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 to three years, if the provision for warranty is unutilized for more than three years from the date of commencement of warranty of the products, it should be reversed and offered for taxation in the year of expiry of warranty. - AO directed to verify the claim - AT

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Disallowance of Provision for Warranty - Absence of scientific ...

Warranty Provision Disallowed Due to Lack of Scientific Method; AO to Verify Unutilized Provisions for Taxation.

August 11, 2023

Case Laws Income Tax AT

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