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of <h1>Changes in Partnership Affect Loss Carry Forward Under Section 78, But Depreciation and Expenditures Remain Unaffected.</h1> Section 78 of the Income Tax Act addresses the carry forward and set off of losses when a partnership firm's constitution changes due to a partner's retirement or death. In such instances, the firm cannot carry forward the share of loss attributable to the outgoing partner. However, this restriction applies only to losses and does not affect the adjustment of unabsorbed depreciation, unabsorbed capital expenditure on scientific research, or family planning expenditure.
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