No set off of losses against undisclosed income consequent to search, requisition and survey.

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..... set off of losses against undisclosed income consequent to search, requisition and survey. 120. (1) Irrespective of anything to the contrary contained in any other provision of this Act, any loss, wh .....

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..... d income" for any tax year shall have the meaning assigned to it in section 301. - Clause 120 of the Bill seeks to provide that no set off of loss or unabsorbed depreciation shall be allowed agains .....

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