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1988 (7) TMI 111 - ITAT HYDERABAD-BExtract: .......ofit rate, the Commissioner was only attempting a rough and ready method of fixing the market value of the closing stock. He has not assumed, as submitted, that the goods were actually sold. 10. Subject to this difference in the gross profit rate to be adopted while valuing the closing stock at market value the appeal would be treated as dismissed.
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