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1966 (6) TMI 3 - HC - Income TaxTrade loss - Debt advanced for the acquisition of the right of distribution in the course of a business, which the assessee was conducting as a distributor and exhibitor of pictures, is clearly a debt due to him in respect of the business within the meaning of s. 10(2)(xi) of the IT Act, 1922 - therefore, sum which remained unrealised was as allowable as trade loss
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