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2007 (3) TMI 407 - ITAT MUMBAIExtract: .......t the assessee is not eligible for deduction of professional fees under the head lsquo Profit and gain of business or profession rsquo and consequently, it is also not eligible for set off of the same as business loss against short-term capital gain. Accordingly, we reverse the finding of the CIT(A). Thus, this ground of the revenue stands allowed.
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