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1990 (1) TMI 119 - ITAT DELHI-BExtract: .......as justified in allowing the difference as a business loss. On a reference their Lordships held as under Having regard to the facts found by the Tribunal the loss incurred by the assessee in the process of bidding the chit amount could be allowed as a business loss. 7. In the result both the Revenue s appeal and the cross-objection stand dismissed.
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