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1973 (1) TMI 3 - HC - Income TaxAdventure in the Nature of Trade - agreement for buying 2 lakhs feet of disposal pipes within stipulated period by paying cash on delivery but delivery was not taken - vendor sold goods incurring loss. The assessee reimbursed the loss. Whether this reimbursement is a business loss and whether the interest on borrowing to pay the loss and the expenses incurred in connection with the loss are allowable
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