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2008 (7) TMI 949 - ITAT MUMBAI
Extract:
.......ing para of our order, we hold that the disallowance of 1 per cent of total expenses towards estimated expenses incurred on speculative share transactions is uncalled for and the disallowance of 1 per cent of total expenses is deleted and the ground of appeal No. 2 of the assessee is allowed. 8. In the result, the appeal of the assessee is allowed.