SC granted SLP against HC's ruling that income to be taxed at 12% GP rate as per industry's standard

IT : Where in course of proceedings initiated pursuant to survey, High Court opined that since average gross profit (GP) rate in assessee's industry was 12 per cent, whereever profit of assessee was more than 12 per cent, same would not be refunded to assessee but where it was less than 12 per cent, income would be assessed on basis of 12 per cent GP, SLP filed against aforesaid order of High Court was to be granted

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