TMI BlogExcess Warranty Provision Deferred by Assessee Not Deductible, Deemed Unreliable for Tax Purposes.Provision for warranty - assessee derived advantage by deferring its income to the extent of excess warranty provision to subsequent years. Therefore, such excess provision cannot be allowed as a deduction. Therefore the provision made for warranty cannot be said to be reliable. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|