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1979 (1) TMI 30 - HC - Income TaxExtract: ........ Accordingly, question No. 1 is not answered. Question No. 2 is answered in the affirmative and in favour of the assessee. The Tribunal will work out the allowable part of losses in accordance with the aforesaid circular of the Central Board of Revenue as explained by us earlier in this judgment. Parties will bear their own costs of the reference.
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