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Net income determination - assessee has not maintained proper vouchers but spent it in cash - instead of disallowing 50 of cash expenditure AO should have estimated the income - AO directed to determine the net income of the assessee at 20 of the gross receipts - Tri

Income Tax - Net income determination - assessee has not maintained proper vouchers but spent it in cash - instead of disallowing 50% of cash expenditure, AO should have estimated the income - AO dire .....

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