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1971 (8) TMI 34 - SUPREME COURTWhether proceedings under section 34(1)(b) were validly initiated and the assessment made pursuant to the said proceedings was legal - Whether Tribunal was justified in holding that the loss of Rs. 5,14,295 on the sale of shares did not arise to the assessee from a share-dealing business but was a loss on realisation of investment - We are not satisfied that the Tribunal's finding is open to correction by this court on the facts and circumstances of this case - appeal of assessee is dismissed
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