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1988 (12) TMI 43 - CALCUTTA HIGH COURTExtract: ....... long-term capital gains is a profit or positive figure, deduction will be available under section 80T. If the net result is a loss, no deduction will be available. For the reasons aforesaid, both the questions in this reference must be answered in the negative and in favour of the Revenue. There will be no order as to costs. J. N. HORE J.-I agree.
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