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2014 (11) TMI 1234 - HC - Income TaxDisallowance of loss incidental to business as allowable u/s. 28 - whether provision of section 37(1) of the Income-Tax Act, 1961 cannot override the provision of section 28? - HELD THAT:- As decided in BIPINCHANDRA K. BHATIA VERSUS DY. CIT. [2014 (10) TMI 793 - GUJARAT HIGH COURT] as relying on case of Dr. TA Quereshi [ 2006 (12) TMI 91 - Supreme Court] loss which was incurred during the course of business even if the same is illegal is required to be compensated and for the loss suffered by the assessee – Decided in favour of assessee.
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