TMI BlogAssessee's Warranty Expense Provision Justified: Present Obligation from Past Events Allows Reliable Estimate for Validity.Nature of Expenses - Provision for warranty is rightly made by the assessee because it has incurred a present obligation as a result of past events - A reliable estimate of the obligation is possible - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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