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1995 (8) TMI 83 - AT - Income TaxExtract: .......the difference between Rs. 10,85,003 and Rs. 8,41,664. It is held that G.P. rate should be applied on the entire sales of Rs. 10,85,003 which were not recorded in the books of account. The ITO is accordingly directed to apply G.P. rate of 2.36 on the amount of Rs. 10,85,003 and work out the addition. 2. In the result, the appeal is allowed in part.
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