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1987 (10) TMI 86 - AT - Income TaxExtract: .......ion of Rs. 46,666 should be allowed to be set off u/s. 72 of the Act. The authorities below were not justified in rejecting this claim of the assessee. However, the remaining loss of Rs. 8,57,659 which pertains to assessment year 1969-70 lapsed and was rightly not allowed set of by the authorities below. In the result, the appeal is partly allowed.
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