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1973 (7) TMI 19 - HC - Income TaxSettlement of damages for breach of contract after expiry of contract - Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that the loss of Rs. 11,100 was sustained by the assessee in speculative business within the meaning of Explanation 2 to section 28 read with sub-section (5) of section 43 of the Income-tax Act, 1961 ? - held that Settlement of damages for breach of contract does not amount to speculative transaction as it is not settling a contract
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