2023 (7) TMI 1473 - HC - Income Tax

Accrual of income - advance from customers - income liable to be taxed in the assessment year under consideration or not ? - ITAT deleted addition - HELD THAT - We are told that it is covered by the judgment of the Supreme Court in Taparia Tools Ltd 2015 (3) TMI 853 - SUPREME COURT Provision for warranty - warranty provision was a contingent liability and not an ascertained liability moreover the same was adhoc - ITAT deleted addition - HELD THAT - Proposed question is covered by the judgment of the Supreme Court rendered in Rotork Controls India (P.) Ltd 2009 (5) TMI 16 - SUPREME COURT

Summary

The appeal concerns Assessment Year 2006-07 and challenges an order dated 07.11.2017 related to AYs 2005-06 and 2007-08. The appellant revenue proposed questions of law regarding additions made by the Assessing Officer, but both questions were found to be covered by previous judgments. The High Court found no substantial question of law and closed the appeal.