'Benign Assessment Procedure' for assessees engaged in diamond manufacturing and/or trading.

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Full Text of the Document

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....case of assessees engaged in diamond business as announced by Hon'ble Finance Minister in his Budget Speech on 28.2.2007 shall be as under:- A. The procedure will apply to assessees engaged in the business of manufacturing and/or trading of diamonds (referred to below as such business). B. If an assessee has shown a sum equal to or higher than 6% of his total turnover from such business as his i....