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1995 (2) TMI 51 - HC - Income TaxExtract: .......ment has sought this reference. In any case, in view of the circular which binds the Department, the loss of Rs. 31,988 in contracts for bardan has to be taken as a hedging business loss and not as a speculation loss. The question, therefore, which is referred to us is answered in the affirmative and in favour of the assessee. No order as to costs.
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