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2006 (7) TMI 199 - HC - Income TaxBad Debts – Deduction u/s 80-I on extraction and selling of lignite - Under the circumstances and that from commercial standard, such loss is considered to be a trading loss and become deductible from the total income. The risk is inherent in the carrying on the business and is either directly connected with it or incidental to it, loss is allowable – on the issue of deduction u/s 80I notices were issued.
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