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1973 (5) TMI 3 - HC - Income Tax" 1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the sum of Rs. 5,000 was not a capital loss within the meaning of section 12B of the Indian Income-tax Act, 1922 ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the provision of section 12B of the Indian Income-tax Act, 1922, did not apply to the transaction resulting in the loss of Rs. 53,761 incurred by the assessee ? " - we answer both the questions referred to us in the affirmative and against the assessee
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