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2009 (12) TMI 728 - AT - Income TaxExtract: .......iew of the above discussion, we do not find any merit in the action of the lower authorities for declining the claim of business loss. Accordingly, we reverse the orders of the lower authorities and allow the appeal of the assessee. In the result, the appeal of the assessee is allowed. The decision pronounced in the open court on December 18, 2009.
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