2012 (9) TMI 1040 - HC - Income Tax

Supreme court in the case of Rotork Controls India P. Ltd. -vs- Commissioner of Income-Tax reported 2009 (5) TMI 16 - SUPREME COURT OF INDIA has held in para-10 that the provision for warranty could be made is permissible if the requirements stated in para-10 are fulfilled.

Summary

The Karnataka High Court allowed the appeals in the case of Rotork Controls India P. Ltd. vs. Commissioner of Income-Tax based on the Supreme Court's ruling that provision for warranty is permissible if certain requirements are met. The previous orders by the ITAT were set aside, and the matters were remanded for further disposal.