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2008 (3) TMI 251 - PUNJAB AND HARYANA HIGH COURTWhether ITAT is right in reducing the G.P. rate from 16.16% to 12.94% ignoring the Section 132(4A) - while taking into consideration the goods returned by the assessee and it was observed that if the said amount is reduced then the GP rate would come to 12.94% - CIT (A) was justified in holding the deposits in the bank accounts as sale proceeds - CIT (A) was justified in applying GP @ 12.94% in respect of unrecorded sales – order of ITAT is justified - revenue appeal dismissed
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