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The Appellate Tribunal ITAT Indore upheld the addition of Rs. 9,916 in the cloth account of the branch situated at Pachor. The assessee's appeal was partly allowed, reducing the trading addition to a GP rate of 9 per cent. The Tribunal found that the GP rate of 10 per cent applied by the ITO was on the higher side due to the significant increase in turnover compared to the previous year.
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