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2016 (8) TMI 812 - HC - Income TaxG.P. estimation - rejecting the books of accounts - Held that:- Taking into account the observation that the gross profit of the assessee was around 6%, it will be proper to estimate the same @ 5%. and therefore, we are of the view that the Tribunal ought to have estimated the gross profit @ 5%. Consequently, the issues raised in the above Appeals are answered in favour of the Department and against the assessee
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