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Set off and carry forward of losses from specified activity.

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....r any tax year, loss computed in respect of a specified activity cannot be wholly set off under sub-section (1), so much of the loss not so set off or the whole loss, as the case may be, shall be carried forward to the following tax year and- (i) be set off against the income, if any, of the specified activity carried on by him for such tax year; and (ii) if the loss cannot be wholly so set of....

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Set off and carry forward of losses from specified activity.