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2001 (2) TMI 29 - HC - Income TaxExtract: ....... was also conducted by the actual delivery of scrips. In such a case section 43(5) could not have been invoked by holding such transaction to be a speculative transaction. As a result, the aforesaid question of law as reframed by us is answered in the affirmative, i.e., to say in favour of the assessee and against the Revenue. No order as to costs.
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