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Documents citing Income-Tax Officer vs Emco Transformers Ltd. on 30 December, 1988

Maruti Suzuki India Ltd., New Delhi vs Addl. Cit, New Delhi on 9 November, 2017

He placed reliance on the decisions reported in ITO vs. EMCO Transformers Ltd. (ITAT, Bom) 32 1TD 260, Srinivasa Computers Ltd. vs. ACIT (ITAT, Chennai) 107 1TD 357, and CIT vs. Rotork Controls India Ltd. (Mad) 293 ITR 311. According to him, later on the Hon'ble Supreme Court has laid down General Principle on this issue, wherein it was stated that the value of contingent liability, like warranty expense, if properly ascertained and discounted on accrual basis can be an item of deduction under section 37, the principle of estimation is not the normal rule it would depend on the nature of business, nature of sale, nature of product and scientific method of accounting adopted by the assessee, and it would also depend upon the historical trend and number of articles produced.
Income Tax Appellate Tribunal - Delhi Cites 179 - Cited by 13 - Full Document

Maruti Suzuki India Ltd., New Delhi vs Addl. Cit, New Delhi on 17 October, 2018

He placed reliance on the decisions reported in ITO vs. EMCO Transformers Ltd. (ITAT, Bom) 32 1TD 260, Srinivasa Computers Ltd. vs. ACIT (ITAT, Chennai) 107 1TD 357, and CIT vs. Rotork Controls India Ltd. (Mad) 293 ITR 311. According to him, later on the Hon'ble Supreme Court has laid down General Principle on this issue, wherein it was stated that the value of contingent liability, like warranty expense, if properly ascertained and discounted on accrual basis can be an item of deduction under section 37, the principle of estimation is not the normal rule it would depend on the nature of business, nature of sale, nature of product and scientific method of accounting adopted by the assessee, and it would also depend upon the historical trend and number of articles produced.
Income Tax Appellate Tribunal - Delhi Cites 243 - Cited by 39 - Full Document

Dcit, New Delhi vs M/S Maruti Suzuki India Ltd, New Delhi on 12 March, 2024

He placed reliance on the decisions reported in ITO vs. EMCO Transformers Ltd. (ITAT, Bom) 32 1TD 260, Srinivasa Computers Ltd. vs. ACIT (ITAT, Chennai) 107 1TD 357, and CIT 80 vs. Rotork Controls India Ltd. (Mad) 293 ITR 311. According to him, later on the Hon'ble Supreme Court has laid down General Principle on this issue, wherein it was stated that the value of contingent liability, like warranty expense, if properly ascertained and discounted on accrual basis can be an item of deduction under section 37, the principle of estimation is not the normal rule it would depend on the nature of business, nature of sale, nature of product and scientific method of accounting adopted by the assessee, and it would also depend upon the historical trend and number of articles produced.
Income Tax Appellate Tribunal - Delhi Cites 62 - Cited by 0 - Full Document

Maruti Suzuki India Ltd., New Delhi vs Addl. Cit, New Delhi on 12 March, 2024

He placed reliance on the decisions reported in ITO vs. EMCO Transformers Ltd. (ITAT, Bom) 32 1TD 260, Srinivasa Computers Ltd. vs. ACIT (ITAT, Chennai) 107 1TD 357, and CIT 80 vs. Rotork Controls India Ltd. (Mad) 293 ITR 311. According to him, later on the Hon'ble Supreme Court has laid down General Principle on this issue, wherein it was stated that the value of contingent liability, like warranty expense, if properly ascertained and discounted on accrual basis can be an item of deduction under section 37, the principle of estimation is not the normal rule it would depend on the nature of business, nature of sale, nature of product and scientific method of accounting adopted by the assessee, and it would also depend upon the historical trend and number of articles produced.
Income Tax Appellate Tribunal - Delhi Cites 62 - Cited by 0 - Full Document

Essential Power Transmission P. Ltd, ... vs Assessee on 5 October, 2009

7. The learned D.R., however, referred to the findings of the A.O. in the assessment order, which were again reaffirmed by the CIT(A) in his order at para 3.4. He also submitted that the learned CIT(A) distinguished the facts in the above said case of Rotork Controls India (P) Ltd. but relied on the decisions of the ITAT in the case of ITO vs. Emco Transformers Ltd. 32 ITD 260 (Bom) and Srinivasan Computers Ltd. vs. ACIT 107 ITD 357. It has his 4 ITA No. 6515/Mum/2009 M/s. Essential Power Transmission Pvt. Ltd.
Income Tax Appellate Tribunal - Mumbai Cites 4 - Cited by 0 - Full Document
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