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1973 (4) TMI 40 - MADRAS HIGH COURTExtract: ....... taken that the assessee has not established its case that the transactions in respect of which the losses in question have occurred are covered by clause (a) of the third proviso to section 24(1). The reference is therefore, answered in the negative and against the assessee. The revenue will have its costs from the assessee. Counsel s fee Rs. 250.
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