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1997 (1) TMI 25 - HC - Income TaxExtract: ....... in the case of one partner, namely, Jagdish Ram Sud, but he disallowed the claim of set off in the case of the petitioner, Kishan Chand. In the result, the writ petition succeeds and the unabsorbed loss of Rs. 49,793 incurred in the two firms is held to be allowable by way of set off against the income of the petitioner in the next year. No costs.
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