Carry forward and set off of business loss.

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.... business or profession, carried on by him and assessable for that tax year, if any, computed for such subsequent tax year, and so on. (2) The unabsorbed business loss referred to in sub-section (1), shall be carried forward to the following tax year, not being more than eight tax years immediately succeeding the tax year in which such loss was first computed. (3) The unabsorbed business loss re....