Estimating net profit by applying 1.33% rate on estimated gross receipts based on audited profit & loss...

Estimating net profit by applying 1.33% rate on estimated gross receipts based on audited profit & loss accounts for previous years. Separate addition for interest, commission, and rental income disallowed, directing verification of disclosure and inclusion in offered profit. Grounds partly allowed after considering past history, financial crunch, and nature of business. .....

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