Indian Kanoon - Search engine for Indian Law

6. As per the findings recorded by the Assessing Officer and the Tribunal, the assessee has computed the provision for warranty by taking average of warranty claims in the last three years excluding the previous year in question. On this basis, the warranty claim provision made in the assessment year 2001-02 was 0.56% of the domestic turnover but decreased to 0.42% in the assessment year 2003-04 and to 0.28% or 0.33% for the assessment year 2004-05. Learned counsel for the appellant however says that there was miscalculation and extended warranty was not provided in the assessment year 2004-05. This aspect was not raised before the authorities/Tribunal. We are only referring to the figures/chart before the authorities/Tribunal. Keeping in view the average warranty claims in the assessment year 2002-03 to 2004-05 deduction towards warranty claim of 0.39% was made and has been allowed for the assessment year 2005-06. The figure is `951 lakhs. Additional warranty has been allowed both in respect of LCV and HCV of `285.69 and `95.73 lakhs, respectively.