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1978 (8) TMI 96 - ITAT ALLAHABAD-AExtract: .......cogent reasons and rather on presumptions. 16. In view of our above discussion and totality of facts and circumstances of the case, we hold that the net profit rate shown at 6.8 per cent by the assessee respondent was reasonable the AAC was justified in deleting the addition of Rs. 56,674 made by the ITO. 17. In the result, the appeal is dismissed.
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