Supreme Court · 2009 INSC 792 · Decided 12 May 2009
M/S. Rotork Controls India (P) LTD. v. Commissioner of Income Tax, Chennai
- Court
- Supreme Court of India
- Citation
- 2009 INSC 792 · [2009] 8 S.C.R. 1152
- Case number
- CIVIL APPEAL No. 3506/2009
- Decided
- 12 May 2009
- Bench
- S.H. KAPADIA, AFTAB ALAM (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 37
Headnote
8 S.C.R. 1152 MIS. ROTORK CONTROLS INDIA (P) LTD. v. COMMISSIONER OF INCOME TAX, CHENNAI (Civil Appeal Nos. 3506 - 3510 of 2009) MAY 12, 2009 [S.H. KAPADIA AND AFTAB ALAM, JJ.) Income Tax Act, 1961: s.37 - Provision for warranty - Estimation of contingent liability - Manufacture and sale of G on historical trend - Entitlement to deduction - Held: Entitled - Such obligation arising from past events to D be recognized as provisions. Words and phrases: 'provision: 'liability', 'obligating event' - Meaning of, in the context of Income Tax Act, 1961. Appellant-assessee was manufacturing
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