K.S. Hedge, J.
1. This appeal by certificate arises from the decision of the Allahabad High Court in Civil Misc. Writ Petition No. 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. Thereupon, the assessee filed a revision petition before the Commissioner under Section 33A of the Indian Income-tax Act, 1922. By an order dated September 21, 1961, his revision petition was dismissed. The assessee challenged that order by means of a writ petition as mentioned earlier. The High Court following its decision in Jagannath Mahadeo Prasad v. Commissioner of Income-tax : 55ITR501(All) , allowed the writ petition and quashed the assessment order. This appeal has been brought against that decision. The decision in Jagannath Mahadeo Prasad's case 1 has now been overruled by the decision of this Court in Commissioner of Income-tax v. Jagannath Mahadeo Prasad : 71ITR296(SC) . In view of that decision this appeal has to be allowed and it is ordered accordingly. In the result the decision of the High Court is set aside and the writ petition is ordered to be dismissed. No costs.