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1979 (1) TMI 94 - KARNATAKA HIGH COURTExtract: .......velopment rebate cannot be treated as part of assessed loss which is allowed to be carried forward and given priority over the unabsorbed depreciation allowance of the previous years. The Tribunal was, therefore, right in allowing the appeal by the department. The questions referred to us are answered accordingly and against the assessee. No costs.
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