Calculation of direct tax payable by the employer.

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....ear, namely:- (a) in calculating such tax no account shall be taken of,-- (i) any loss incurred by the employer in respect of any previous accounting year and carried forward under any law for the time being in force relating to direct taxes; (ii) any arrears of depreciation which the employer is entitled to add to the amount of the allowance for depreciation for any succeeding accounting ye....