https://www.taxtmi.com/caselaws?id=203696 The Tribunal ruled in favor of the assessee on multiple issues, allowing the carry forward of loss due to a reasonable cause for delay, rejecting the claim for a refund of higher central excise duty as not legally claimable, holding that hypothetical income should not be taxed, deleting the disallowance of car expenses for personal use, and considering foreign travel expenses as revenue expenditure. These decisions were supported by legal reasoning and precedents, resulting in the dismissal of the revenue's appeal under section 260A of the Income Tax Act, 1961. en-us Tue, 01 Feb 2011 00:00:00 +0530 Wed, 05 Apr 2017 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203696 The Tribunal ruled in favor of the assessee on multiple issues, allowing the carry forward of loss due to a reasonable cause for delay, rejecting the claim for a refund of higher central excise duty as not legally claimable, holding that hypothetical income should not be taxed, deleting the disallowance of car expenses for personal use, and considering foreign travel expenses as revenue expenditure. These decisions were supported by legal reasoning and precedents, resulting in the dismissal of the revenue's appeal under section 260A of the Income Tax Act, 1961. Case-Laws Income Tax Tue, 01 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203696