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1962 (9) TMI 53 - HC - Income TaxExtract: .......f ₹ 17,866 and thereby neutralize the profit but the carried forward depreciation allowance cannot be treated as a loss available for set off against the income of the assessee from other sources. The question is answered accordingly. The assessee having failed completely will pay the costs of the department. Counsel's fees ₹ 250.
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