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2022 (2) TMI 382 - AT - Income TaxReopening of assessment u/s 148 - estimated the profit on Share Commodity Transaction at 1% - HELD THAT:- There is no any material evidence in respect of its claim except disputing the estimation of 1% made by the Assessing Officer. As the assessee has not filed the Return of Income in the normal course and also in response to the notice issued u/s.148 of the Act and consistently not produced any evidence to its claim, the estimation made by the Assessing Officer at 1% does not require any interference and thus the grounds of appeal raised the assessee are dismissed.
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