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1997 (9) TMI 99 - HC - Income TaxExtract: .......l was justified in its conclusion that for the purpose of computation of deduction under section 80T of the Act, short-term capital loss cannot be deducted from the long-term capital gain. The question referred to us, therefore, is answered in the affirmative and in favour of the assessee. Reference is disposed of accordingly. No order as to costs.
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