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1986 (7) TMI 143 - AT - Income TaxExtract: .......ewithal and it was free and ready to make purchases and to explore the possibilities the managing director had even gone abroad. In this setting of things, the business had been set up, and the assessee was entitled to claim the loss incurred. The order of the Commissioner (Appeals) is affirmed. 7. The appeal and the cross-objections are dismissed.
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