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1987 (12) TMI 65 - AT - Income TaxExtract: .......e legislature wanted to make an exception to the general rule of intra-head adjustment of losses against income, such exceptions have been specifically spelt out in Chapter VI. We are, therefore, of the opinion that no option to the assessee is available under s. 71(1) and we reject the argument of Shri Mehta. 5. The assessee s appeal is dismissed.
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