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1998 (4) TMI 163 - AT - Income TaxExtract: .......tive transaction as defined under section 43(5) of the I.T. Act, 1961. The action of the CIT(A) in not treating the loss on such transaction as speculative loss does not appear to be tenable and accordingly reverse the decision of the CIT(A) and uphold the order of the Assessing Officer. 7. In the result, the appeal filed by the revenue is allowed.
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