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1962 (9) TMI 56 - HC - Income TaxExtract: .......section 24(2), namely, that its application will be postponed to the prior absorption of the carried forward losses of the previous year. In the view that we are taking, our answer to the question referred to us on the present reference is in the affirmative. The Commissioner will pay the costs of the assessee. Question answered in the affirmative.
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