https://www.taxtmi.com/caselaws?id=175708 Deduction under section 80HHC was denied for sales of ATF and petroleum products because they fell within the exclusion for mineral oil or processed minerals and ores. Prior period expenses were treated as deductible only if the related liabilities had crystallized during the year, so item-wise verification was required and the matter was remanded for that exercise. Exchange loss on an outstanding foreign currency loan was also sent back for fresh consideration in light of the governing foreign exchange loss ruling. Interest under section 234D was held inapplicable to refunds granted before 1 June 2003, and the levy was deleted for such pre-commencement refunds. en-us Wed, 24 Nov 2010 00:00:00 +0530 Thu, 03 Dec 2015 13:42:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175708 Deduction under section 80HHC was denied for sales of ATF and petroleum products because they fell within the exclusion for mineral oil or processed minerals and ores. Prior period expenses were treated as deductible only if the related liabilities had crystallized during the year, so item-wise verification was required and the matter was remanded for that exercise. Exchange loss on an outstanding foreign currency loan was also sent back for fresh consideration in light of the governing foreign exchange loss ruling. Interest under section 234D was held inapplicable to refunds granted before 1 June 2003, and the levy was deleted for such pre-commencement refunds. Case-Laws Income Tax Wed, 24 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175708