Dismissing the appeal of the revenue the Court held that the Tribunal was right in holding that the provision for warranty was estimated by the assessee on scientific basis and was therefore allowable.(AY. 2009-10)
CIT v. Stovec Industries Ltd. (2019) 416 ITR 63 (Guj) (HC)
S. 37(1) : Business expenditure – Accrued or Contingent liability- Provision for warranty on scientific basis – Held to be allowable .