https://www.taxtmi.com/caselaws?id=67281 The Tribunal upheld the AAC's decision in a case involving a civil engineering contractor executing works contracts for Railways and M.E.S. The Tribunal determined that the cost of materials supplied by these entities should not be included in calculating the contractor's net profit. The contracts clearly outlined the terms of material supply and deductions, indicating an agreement that the required materials would be provided by the departments, influencing the quoted rates by the contractor. Relying on precedents from other High Courts, the Tribunal dismissed the Department's appeal, emphasizing the consistent principle that the cost of supplied materials should not impact the assessment of the contractor's net profit. en-us Fri, 14 May 1976 00:00:00 +0530 Wed, 09 Mar 2011 18:30:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67281 The Tribunal upheld the AAC's decision in a case involving a civil engineering contractor executing works contracts for Railways and M.E.S. The Tribunal determined that the cost of materials supplied by these entities should not be included in calculating the contractor's net profit. The contracts clearly outlined the terms of material supply and deductions, indicating an agreement that the required materials would be provided by the departments, influencing the quoted rates by the contractor. Relying on precedents from other High Courts, the Tribunal dismissed the Department's appeal, emphasizing the consistent principle that the cost of supplied materials should not impact the assessment of the contractor's net profit. Case-Laws Income Tax Fri, 14 May 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67281