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2011 (3) TMI 1806 - ITAT CUTTACKExtract: .......it of 3% as estimated by the learned CIT(A) in cases of other similar contractors in the same vicinity since the estimation of Net profit is determined @3%, no separate claim for depreciation need to be given as the Net profit is always after depreciation. We direct accordingly. 9. In the result, both the appeals of the assessee are partly allowed.
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