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2003 (3) TMI 265 - ITAT CALCUTTA-C
Extract:
.......he conclusion of the Accountant Member that the assessee is not entitled to carry forward and set off of losses determined for assessment years 1985-86 and 1986-87 as the conditions for such carry forward of loss placed under section 80 of the 1961 Act are not satisfied. 3. In accordance with the majority view, therefore, the appeals are dismissed.