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1977 (7) TMI 83 - ITAT HYDERABAD-BExtract: .......gard to the rate of profit we find that 15 per cent is on the high side. We have come across a number of cases where 12-1/2 per cent is usually adopted. There are cases where lesser percentage is adopted. Having regard to the facts of the case we fix the percentage at 12-1/2 per cent on the net receipts. 4. In the result, appeal is allowed in part.
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