( 1 ) IN this application under Article 226 of the Constitution the petitioner has challenged an order and/or direction of the Income-tax Tribunal. The question has arisen in respect of assessment year 1962-63. In that year the assessee had claimed loss of Rs. 23,100 to be set off against his business income. The said loss had arisen, according to the assessee, in share dealing and as such the assessee was entitled to set off the said loss against his other income. The Income-tax Officer in his order of assessment came to the view that the said loss of Rs. 23,100 was speculative loss and as such not entitled to be set off against business gains. The assessee preferred an appeal before the Appellate Assistant Commissioner. The Appellate Assistant Commissioner agreed with the view of the Income-tax Officer. The assessee thereupon preferred an appeal to the Income-tax Appellate Tribunal. By an order dated the 16th December, 1969, the Appellate Tribunal disposed of the appeal. The Tribunal came to the conclusion that the departmental authorities were not justified in treating the loss as a speculative loss. Thereafter, the Tribunal observed as follows:"however,