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1985 (7) TMI 119 - ITAT AHMEDABAD-AExtract: ....... earlier years. Therefore, in commercial sense the loss carried forward by the assessee would be the loss as reduced by the profits for two earlier years, viz., 1977-78 and 1978-79. 9. In light of the above discussion, therefore, we see no reason to interfere with the decisions of the authorities below. 10. In the result, the appeals are dismissed.
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