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1989 (8) TMI 47 - HC - Income TaxExtract: ....... under In the facts and circumstances of the case, the Tribunal was not justified in holding that the loss of Rs. 9,567.36 claimed by the assessee was a business loss and it should be allowed as a business expenditure. The reference is returned to the Tribunal for passing appropriate order in the light of this answer. There is no order as to costs.
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