Search Results Page

Search Results

1 - 8 of 8 (0.24 seconds)
Zinser Textile Systems P.Ltd, Mumbai vs Department Of Income Tax on 28 October, 2011 cites

M/S. Rotork Controla India (P) Ltd vs Commnr. Of Income Tax, Chennai on 12 May, 2009

Here also, the Commissioner as well as the Tribunal categorically found that the assessee had not proved the provision of warranty expenses based on any scientific method in such circumstances, the assessee cannot place reliance on the decision of the hon'ble Supreme Court reported in Rotork Controls India P. Ltd. v. CIT [2009] 314 ITR 62 (SC) as the facts are totally distinguishable. Even otherwise the assessee has to pass through the triple test as declared therein in order to succeed in his claim on provision for warranty. In the absence of any such finding in its favour satisfying the said triple test, the assessee can not rely on the said decision of the apex court. We do not find any merits in the appeal and, therefore, both the questions of law are answered against the assessee. Accordingly, the tax case appeal is dismissed. No costs."
Supreme Court of India Cites 20 - Cited by 431 - S H Kapadia - Full Document

The Commissioner Of Income Tax vs M/S.Yokogawa India Ltd, on 9 August, 2011

14. Having considered the rival submission as well as the relevant material on record, we note that the assessee has not raised the issue before the Commissioner of Income Tax(Appeals). However, in view of the fact that the assessee has actually written of the amount on account of diminution in value of investment and it was not a mere provision then this aspect is required to be examined. The Assessing Officer has not examined this issue from the angle of the actual written of the amount as the assessee conceded the same. But in view of the various decisions on the point and particularly in the case of CIT Vs Yokogawa India Ltd. (supra), this issue requires a fresh consideration. Accordingly in the interest of justice, we admit the additional ground and remit, the same to the record of the Assessing Officer for 11 ITA No. 4 2 / M/20 12 & 8 595 / M/2011 Zinser Tex til e Sy st ems Pv t. Lt d .
Karnataka High Court Cites 0 - Cited by 70 - Full Document
1