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1976 (10) TMI 21 - HC - Income TaxExtract: .......ion 75(1), which entitles the partners of the firm to have the losses of the firm apportioned between them and to carry forward and set off the apportioned loss in accordance with the provisions of sections 71, 72, 73, 74 and 74A. In view of section 75(2) of the Income-tax Act, the question referred to us is answered against the assessee. No costs.
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