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1984 (3) TMI 170 - AT - Income TaxExtract: .......unting period relevant to the asst. yr. 1979-80. Therefore, the losses incurred by the assessee are to be allowed as business expenditure and they are also to be carried forward. The legal premise on which the CIT (A) proceeded to determine the issue appears to be not correct. Therefore the appeals are allowed and the impugned orders are set aside.
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