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1979 (1) TMI 53 - HC - Income TaxExtract: .......0 is available for adjustment in the hands of the firm. This matter has to be investigated. We answer the question as follows The unabsorbed depreciation to the extent remaining unadjusted in the hands of the partners for 1970-71 should be given set off against the income of the assessee-firm in the year 1971-72. There will be no order as to costs.
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