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1980 (1) TMI 39 - MADRAS HIGH COURTExtract: ....... in the present case, the loss has arisen only because of the assessee s remitting the funds for his own purposes, the loss had to be taken only as personal loss and not as business loss. The result is that the question referred to us is answered in the negative and in favour of the revenue. In the circumstances, there will be no order as to costs.
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