https://www.taxtmi.com/caselaws?id=37465 Loss on sale of Government securities was treated as a revenue loss where the securities were acquired and disposed of as part of business operations and the related interest formed part of business profits. Expenditure on income-tax appeals, including fees, travelling and professional charges, was held deductible because it was incurred for the protection of the business and was justified by commercial expediency. The Tribunal could not, in appeal, direct the Income-tax Officer to examine reduction of penal interest under section 18A(6), as such relief lay outside ordinary appellate jurisdiction. Development rebate on the refrigerator was not allowed. en-us Thu, 01 Feb 1979 00:00:00 +0530 Tue, 30 Mar 2010 10:20:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37465 Loss on sale of Government securities was treated as a revenue loss where the securities were acquired and disposed of as part of business operations and the related interest formed part of business profits. Expenditure on income-tax appeals, including fees, travelling and professional charges, was held deductible because it was incurred for the protection of the business and was justified by commercial expediency. The Tribunal could not, in appeal, direct the Income-tax Officer to examine reduction of penal interest under section 18A(6), as such relief lay outside ordinary appellate jurisdiction. Development rebate on the refrigerator was not allowed. Case-Laws Income Tax Thu, 01 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37465