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1989 (1) TMI 27 - HC - Income TaxExtract: .......ssessee, that is, in the negative, to the effect that the Tribunal was not right in holding that addition of amount under section 69A of the Act on account of the value of gold biscuits of Rs. 42,000 seized by the Customs Authorities cannot be allowed deduction as a business loss. The deduction had to be allowed. There will be no order as to costs.
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