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iv. The explanations submitted by the assessee were not supported on the basis of evidence.

v. The water expenses were incurred by the assessee on the plant not owned by it. Therefore, these expenses were not verifiable.

vi. There was increase in the production as well as expenses which resulted in higher amount of profit in absolute figure but in terms of percentage of the profit there was decrease from 1.15% to 0.93% of the total turnover.