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18. Learned counsel for the petitioner has stressed that notice should not be based on rumour or gossip. The net profit specified in the notice to range between 8 per cent. and 12 per cent. in the contract business can only be said to be a gossip and rumour. While laying stress on the question of rumour being involved in the case, learned counsel for the petitioner has lost sight of the provisions of Section 44AD of the Act wherein a presumption has been provided to be drawn, may be for a case involving a turnover of Rs. 40 lakhs. In the instant case, the turnover is above Rs. 40 lakhs. But then it cannot be said that as and when the turnover increases, the net profit decreases. If the presumption of net profit is statutorily provided, then it cannot be said that the opinion of the Assessing Officer is not rational. It is at least in the line of a statutory provision. If the Assessing Officer has stated in the reasons that the profit ranges from 8 per cent., to 12 per cent., then it is not gossip but is in the line of statutory provision. The practical experience of the Assessing Officer while conducting assessment of similarly situated businessmen also gives him reasons to believe. Thus, it cannot be said that it is a case of recording of reason on the basis of rumour and gossip. When the Legislature has thought of providing such presumption, it cannot be said that this part of the reasons can be said to be based on reasons to suspect. In this light, this argument of learned counsel for the petitioner has no relevance.