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1973 (9) TMI 32 - MADRAS HIGH COURTExtract: ....... question have to be taken as losses sustained in speculative transactions under Explanation 2 to section 24(1). The questions referred in both the cases are, therefore, answered in the affirmative and against the assessees. The revenue will have its costs in both the cases. Counsel s fee Rs. 250 in each case. Questions answered in the affirmative.
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