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1976 (11) TMI 29 - CALCUTTA HIGH COURT
Extract:
.......ment. We, however, make it clear that if any portion of such loss is unabsorbed there will be no carry-forward thereof to any subsequent year. To the extent as stated above we answer the question referred in the negative and in favour of the assessee. In the facts and circumstances of the case, we do not make any order as to costs. DEB J.--I agree.