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No deduction of provision for warranty if its estimated cost wasn't on basis of past experience

September 11, 2018[2018] 98 51 (Madras)/[2018] 258 Taxman 308 (Madras)

IT : Where assessee claimed deduction of provision towards liability for warranty for goods supplied, since there was no material on record to show that estimate of cost was based on past experience, it could be concluded that liability did not crystalise at end of relevant year and, thus, assessee's claim was to be rejected

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