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2002 (10) TMI 254 - AT - Income TaxExtract: .......s incurred by the assessee herein in the chit transaction is to be treated as business loss only, and hence we uphold the view of the CIT(Appeals) taken in the impugned order. Thus we find the issue raised by the Revenue in this appeal is devoid of merits and deserves to be dismissed. 8. In the result, the appeal of the Revenue is hereby dismissed.
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