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2005 (10) TMI 220 - ITAT CHANDIGARH-AExtract: .......Act. 10. In the light of discussion made hereinabove, we are of the confirmed view that the learned CIT(A) was fully justified in directing the AO to deduct past year s losses from current year s profits while arriving at the qualifying amount for the purpose of deduction under s. 80-IA. 11. In the result, appeal filed by the assessee is dismissed.
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