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1981 (3) TMI 102 - ITAT BOMBAY-DExtract: .......ase. As the situation over here is that of short-term capital loss, on the facts stated above, therefore, we hold that the ITO was justified in taking the loss on the sale of the car for the purpose of taking it under the head Capital Gains . Hence, we uphold his order, and thereby set aside that of the CIT. 7. In the result, the appeal is allowed.
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