R12.1.3 Install base New Version Label is not working

.3Business Requirement:

We have a parent instance and wanted to version label  whenever any new spare is added to this instance as part of the repair process by the supervisor.

As per documentation,” In the Item Instance History page you can view the state of the attributes of an instance by specifying a date-time stamp or a version label. This feature provides valuable information regarding what an item instance looked like at a  given point in time “

R12.1.3

Using Install base Agent user Responsibility

Parent was Available as AS_CREATED

Case1:

For Parent A - Add Child 1 and Version label as AA