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1981 (3) TMI 69 - KARNATAKA HIGH COURTExtract: ....... to s. 78(1) in the case of change in the constitution of the firm and sub-s. (3) of s. 72 of the Act which prescribes that no carry forward shall be permitted beyond eight years. In the result, we hold that the view taken by the Tribunal is correct. For the reasons stated, our answer to the first question, as confined by us, is in the affirmative.
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