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2006 (11) TMI 198 - HC - Income TaxAO making best judgment assessment by estimating gross profit and rejecting the books of account to determine the total income of the assessee – failure of the assessee to maintain record of purchases – absence of verifiability of sale – comparable sales were with a gross profit rate on higher side - absence of stock register – even after the assessment referring to comparable data confronted to the assessee, he did not bring on record any contrary data to substantiate his plea - rejection of books of account was justified – assessee’s appeal is dismissed
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