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2006 (5) TMI 54 - HC - Income TaxCo-operative Labour So.- Exemption can’t be granted merely because in the earlier years assessee had got exemption– hence exemption u/s 80P (2)(a)(vi) is denied as each AY is independent – revenue is not required to disclose the reason to assessee before taking his case under scrutiny – since account books of assessee had been rejected & estimate of net profit rate was made @ 8% - tribunal has already reduced it to 6% of gross receipt, hence HC not find any good reason to substitute the same
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