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1968 (6) TMI 10 - HC - Income TaxAssessee deals in jute and hessian - contracts were for purchase and sale of jute or hessian and, instead of actual delivery - Tribunal was justified in holding that the loss suffered by the transfer or delivery of pucca delivery orders was speculation loss under the second Explanation to the proviso to section 24(1) of the Indian Income-tax Act, 1922
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