1971 (8) TMI 38

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....o. 228 of 1962. The assessee was assessed to income-tax for the assessment year 1959-60. He claimed a loss of Rs. 37,306 on account of speculation in gold, silver, etc., and urged that the said speculative loss should be deducted from his other business income. The Income-tax Officer rejected that claim. The order of the Income-tax Officer was upheld by the Appellate Assistant Commissioner. Thereu....