Relief to Landis Gyr: Calcutta HC confirms Relief Granted on Account of Unascertained Liability, “Provision Warranty” which is Contingent in Nature

Landis Gyr - Calcutta High Court - Unascertained Liability - Provision Warranty - Contingent - Taxscan

The Calcutta High Court confirmed the relief granted on account of unascertained liability, “Provision Warranty” which is Contingent in nature, thereby granting relief to Landis Gyr, the respondent. The appeal was filed by the revenue under Section 260A of the Income Tax Act, 1961 which is directed against the order passed by the Income Tax…

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