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2007 (4) TMI 318 - ITAT PATNAExtract: .......ur view, is squarely covered by the provisions of section 78(2) of the Act. Therefore, the assessee is not entitled to set-off of losses of the firm against his individual income. We, therefore, confirm the orders of the authorities below and dismiss the appeal filed by the assessee. 11. In the result, the appeal filed by the assessee is dismissed.
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