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1978 (10) TMI 29 - HC - Income TaxExtract: .......te only to the application of s. 75. We are not entitled to travel beyond that and to go into the question whether depreciation loss can be carried forward by a registered firm. For the reasons given above, we answer the question in the affirmative, in favour of the department and against the assessee. There shall, however, be no order as to costs.
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