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1981 (2) TMI 32 - PUNJAB AND HARYANA HIGH COURTExtract: .......be said to be without any oasis because the amount of the sale proceeds is not in dispute and, in the absence of the trading account, the authorities were fully justified in estimating the profits on a percentage basis. Consequently, the third question is also answered in the affirmative, against the assessee and in favour of the revenue. No costs.
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