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Warranty Provision Deduction Allowed by harshbaheti18 is a document available to read on EtoBox.

The ITAT Ahmedabad ruled in favor of Rotomag Motors And Controls (P.) Ltd., allowing a warranty provision of Rs. 1,14,19,990 as a deduction under section 37(1) of the Income-tax Act for the assessment year 2017-18. The provision was calculated using a scientifically sound discounted cash flow method, complying with Accounting Standard 29, despite initial disallowance by the Assessing Officer due to perceived lack of historical data. The Tribunal emphasized the legitimacy of the provision based on consistent

Author

harshbaheti18

Language

EN