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7. Now the only dispute is reasonableness of the gross profit estimated by the Assessing Officer and the CIT(Appeals). Though the CIT(Appeals) estimated the gross profit at 7.68%, the assessee claims that 7.68% is highly excessive, therefore, it has to be reasonably estimated. The average gross profit disclosed by the assessee for the earlier assessment year is 4 to 6%. From the order of the CIT(Appeals) it appears that the CIT(Appeals) has considered the gross profit ratio for the assessment years 2008-09, 2009-10 and 2010-11 and arrived at the average gross profit for three years at 7.68%. The profit was estimated only on the fictitious sales shown by the assessee. This Tribunal is of the considered opinion that for fictitious sales, the assessee has also booked fictitious purchase in the books. The fictitious purchase effected in the books would definitely decrease the profit or the turnover of the assessee considerably. Therefore, for the purpose of estimating the reasonable profit, the entire turnover including the fictitious purchases and fictitious sales has to be taken into consideration. In other words, the bogus purchases and sales need not be excluded for the purpose of determining the total turnover. By taking into consideration of the earlier year profit which is 4 to 6%, this Tribunal is of the considered opinion that estimation of gross profit at 5.5% would meet the ends of justice.