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1974 (2) TMI 2 - HC - Income TaxSpeculative Transactions - Hedging Transaction - Raw Material - "(1) Whether the loss of Rs. 66,417 was allowable under section 10(1), or could be set off against the company's profits of the business under proviso (a) to Explanation 2 of section 24(1) (2) Whether Rs. 52,633 claimed as business expenditure for the assessment year 1957-58 and Rs. 11,578 claimed as such for the assessment year 1958-59, under section 10(2)(xv) of the Indian Income-tax Act, 1922, have rightly been disallowed?"
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