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1988 (11) TMI 75 - HC - Income TaxExtract: .......8 was made by the assessee for breach of contract. The transaction here cannot, therefore, in the circumstances, be branded as a speculative transaction in terms of section 43 of the Act. The question referred is accordingly answered in the affirmative, in favour of the assessee and against the Revenue. There will, however, be no order as to costs.
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