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1975 (4) TMI 34 - HC - Income TaxExtract: ....... It was held that the transaction was a clear case of loaning out money with a view to reap a profit and an adventure in the nature of trade. We are, therefore, of the view that the profit made by the assessee is liable to be assessed. The reference is accordingly answered in the affirmative and against the assessee with costs. Counsel fee Rs. 250.
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