Case Law Analysis
|Income Tax Appellate Tribunal
Warranty Provision & Full R&D Deduction Allowed Under Section 37(1) & 35(2AB) IT Act : ITAT Delhi
ITAT Delhi upholds deduction for warranty provisions as accrued liability under Section 37(1) and full R&D expenditure under Section 35(2AB), citing Rotork Controls precedent. Ruling benefits corporates claiming contingent liabilities and innovation expenses.