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of <h1>Government permits adjustment of gains against transit losses in India, upholding lower authorities' condonation.</h1> <h3>IN RE: HINDUSTAN PETROLEUM CORPORATION LTD.</h3> The Government of India allowed the revision application in a case concerning transit losses of various products, permitting adjustment of gains against ... - The revision application was allowed by the Government of India in a case involving transit losses of Raw Naphtha, HSD, D.O., L.D.O. Different products were loaded on the same ship, resulting in losses in some and gains in others. The gains were not initially considered in computing losses. The Government allowed adjustment of gains against losses, following a previous decision, and upheld the condonation of losses to the extent allowed by lower authorities.
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