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1983 (8) TMI 155 - ITAT MADRAS-DExtract: .......ing the liability to tax. Thus, the assessee s claim for set off will be permissible under clause (b) of section 79. The Commissioner (Appeals) was perfectly justified in directing the ITO to allow the benefit of carry forward and set off of losses of the earlier years. Thus, we uphold his order. 5. In the result, the appeal fails and is dismissed.
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