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1975 (6) TMI 10 - HC - Income TaxExtract: .......ssible to accept Mr. Munim s contention. In this view of the matter, we feel that the Tribunal was right in taking the view that the loss of Rs. 63,892 in hessian cloth suffered by the applicant was a speculation loss. The question is, therefore, answered in the affirmative and against the assessee. The assessee will pay the costs of the reference.
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