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1990 (11) TMI 47 - HC - Income TaxExtract: ....... and old deposits, etc., could not have been deducted as business loss. Since the finding of the Tribunal is one of fact that the assessee was not carrying on banking business, there is no question of deducting the amount as business loss. The question referred is answered in the affirmative, i.e., in favour of the Revenue and against the assessee.
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