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1958 (10) TMI 56 - BOMBAY HIGH COURTExtract: ....... a registered firm does not make any difference. Our answer, therefore, to the second question will be that the assessee can claim a set-off in respect of its share of loss in an unregistered firm if the Income-tax authorities do not proceed to determine the loss of the unregistered firm and do not bring it to tax as permitted by section 23(5)(b ).
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