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2001 (9) TMI 234 - ITAT CALCUTTA-EExtract: .......transaction is a speculation loss not liable to be allowed as deduction out of non-speculation business profit. The orders of the authorities below are, therefore, upheld on this issue and the ground Nos. 3 and 4 are accordingly decided against the assessee and in favour of the department. 21. In the result, the assessee s appeal is partly allowed.
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