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1962 (8) TMI 108 - HC - Income TaxExtract: .......f profit therein. The loss suffered by the assessee, therefore, was clearly a capital loss and not a revenue loss which would be deductible under section 10(2)(xi) or section 10(1) of the Act. Our answer therefore to the question referred to us is in the negative. The assessee will pay the costs of the department. Question answered in the negative.
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