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1982 (3) TMI 144 - AT - Income TaxExtract: .......ing paragraphs, we are of the view that it would be proper and reasonable to apply a GP rate of 22 per cent on the estimated sales of Rs. 4,40,000. The ITO would please work out the relief admissible to the assessee accordingly. Consequential relief to the partners may also be given. 5. In the result, the appeals by the assessee are partly allowed.
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