the peculiarity is that the sales are accepted creating a situation where, if we accept the view taken by the learned CIT(A), it would show the gross profit of the assessee at 93.73 per cent for the asst. yr. 2008-09 which in itself is quite an improbable on its face. So by estimating the gross profit of the assessee at 9 per cent after disallowing the bogus purchases, the learned AO had taken a pragmatic view which renders the issue not amenable to the learned CIT(A) to the jurisdiction under s. 263 of the Act. 40. In view of our above findings, we are of the considered opinion that the exercise of jurisdiction under s. 263 of the Act by the learned Principal CIT is not warranted, and such an order cannot be sustained and is liable to be quashed. We accordingly quash the impugned order. 41.In the results, all the three appeals of the assessee are allowed.