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1982 (4) TMI 18 - BOMBAY HIGH COURTExtract: .......amount paid as deposit which was forfeited was a trading loss, and the assessee was, therefore, entitled to deduct that amount in order to arrive at the true profits of the business. In the result, the question referred to us is answered in the affirmative and in favour of the assessee. The Revenue to pay to the assessee the costs of the reference.
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