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2008 (9) TMI 407 - AT - Income TaxExtract: .......rs. The assessee is entitled to deduct only the lesser amount, which is the business loss of Rs. 35,64,068 in the present case. This has been rightly deducted by the AO. 11. In the facts of the present case, we set aside the order of the CIT(A) and restore the order of the AO on this point. 12. In result, the appeal filed by the Revenue is allowed.
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