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1987 (1) TMI 76 - HC - Income TaxExtract: .......n the basis of 12 gross profit rate amounting to Rs. 4,917 was demonstrably for no reason. Under the circumstances, we answer the question in the affirmative and in favour of the assessee. We direct the Tribunal to hear the appeal afresh, consider all the material on record and then arrive at a final conclusion. There shall be no order as to costs.
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