1997 (7) TMI 99

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....) of the Income-tax Act, 1961, at the instance of the assessee arising out of the assessment year 1975-76 seeking opinion of the High Court on the following questions : "(1) Whether, on the facts and in the circumstances of the case, the Inspecting Assistant Commissioner had jurisdiction to raise the gross profit rate to be applied on the estimated sales from 40 per cent. as proposed in the dra....