Tribunal held to re-consider Warranty Claim by MRF Tyres in terms of Supreme Court decision

MRF Limited Vs DCIT (ITAT Chennai) Conclusion:  Assessee had given the scientific basis for the warranty in respect of tyres sold to the truck segment and non-truck segment and further the issue was pending with the AO because AO had to verify the details in term of the decision of the Supreme court in the case of Rotork Controls India Pvt. Ltd., vs. CIT,314 ITR 62(SC). Therefore,  the matter need to go back to the file of AO. Held: Assessee was engaged in the business of manufacturing of tyres. It was noted that this matter travelled up to ITAT and ITAT in ITA Nos.641 to 645/Chny/2018 dated...