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1956 (9) TMI 71 - HC - Income TaxExtract: ....... have come to the conclusion that the assessee is entitled under the third proviso to section 5 to deduct the losses incurred by him in the Indian State and set them off against the profits made in the taxable territories. We must, therefore, answer the question submitted to us in the affirmative. The Commissioner to pay the costs of the reference.
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