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1980 (6) TMI 52 - ITAT BOMBAY-DExtract: ........ 26,000 only. Even then, the declared income was Rs. 62,180. The Department did not refer to any comparable case while applying the net profit at 12 per cent. In the absence of any other evidence on record, the net profit rate declared by the assessee should be accepted. The addition in question is deleted. 9. In the result, the appeal is allowed.
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