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1978 (2) TMI 126 - ITAT MADRAS-AExtract: .......Court the decisions referred to above in preference to that taken by the Bombay High Court, that unabsorbed depreciation of the earlier year cannot be set off against the assessee s income for the assessment year under consideration. We, therefore, set aside the directions of the AAC in this behalf. 10. In the result, the appeal is allowed in part.
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