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1962 (9) TMI 70 - HC - Income TaxExtract: ....... nature of speculative ones within the meaning of the first proviso to section 24(1) of the Indian Income-tax Act and that the loss of ₹ 6,39,897 cannot be set off against the profits and gains of the business. The Commissioner of Income-tax is entitled to his costs. Certified for two counsel. DATTA J.--I agree. Question answered accordingly.
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