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2012 (5) TMI 756 - ITAT HYDERABADEstimate of net profit above 5% of the purchases made by the assessee is to be adopted, we direct the Assessing Officer to estimate net profit at 5% of the purchases or stock put for sale during the year subject to the assessed income not less than returned income. The order of the CIT(A), to this extent, is modified accordingly.
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