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1962 (1) TMI 68 - CALCUTTA HIGH COURT
Extract:
....... finds himself in a position not to dispute the liability any further. In the result I hold that on the facts and in the circumstances of the case the loss of ₹ 1,20,000 was admissible in the assessment year 1950-51 as claimed by the assessee. The assessee will have the costs of this reference. RAY J.--I agree. Reference answered accordingly.