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1948 (3) TMI 46 - HC - Income TaxExtract: .......st profits or gains in British India, but can only be set off against profits and gains in an Indian State. The result, therefore, is that even under Section 24 the assessee is not entitled to have the amount of ₹ 73,779 set off against the sum of ₹ 2,01,000. The second question referred to us must therefore be answered in the negative.
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