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1989 (9) TMI 157 - AT - Income TaxExtract: .......de law in later part we are convinced that the income in the present case from leasing out commercial assets is to be treated as income from business and the assessee is entitled to set off of unabsorbed losses and unabsorbed depreciation coming from earlier years. CIT (Appeals) s action is, therefore, reversed and assessee s appeal stands allowed.
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