Warranty Expenses claimed under Provisional basis is not Unascertained Liability: ITAT sets aside Order disallowing Provisional Warranty Expenses [Read Order]

By Taxscan Team - On July 3, 2022 8:11 pm - 2 mins read

Warranty Expenses - Unascertained Liability - ITAT - Provisional Warranty Expenses - Taxscan

The Income Tax Appellate Tribunal (ITAT) Delhi Bench has held that warranty expenses claimed under a provisional basis are not an unascertained liability and set-asides order disallowing provisional warranty expenses The appellant, M/s Eberspeacher Suetrak Bus climate Control Systems Private Limited, had debited expenses in the Profit and Loss account, under the head “Provision for…

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Topics

Assessing Officer CIT(A)ITAT liability Warranty Expenses