https://www.taxtmi.com/caselaws?id=100729 Supply of cement, structural steel and bricks to contractors was examined to determine whether any profit element arose for tax purposes. The Tribunal found that no profit was charged on cement and structural steel, and that freight, insurance and handling charges merely reflected expenses actually incurred and formed part of the price paid. For bricks, the charged rate also left no profit after overheads and the uncertain transport component were taken into account. The supplies therefore did not yield taxable profit, and the issue was answered against the existence of any profit element. en-us Tue, 14 Apr 1970 00:00:00 +0530 Wed, 18 Sep 2013 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100729 Supply of cement, structural steel and bricks to contractors was examined to determine whether any profit element arose for tax purposes. The Tribunal found that no profit was charged on cement and structural steel, and that freight, insurance and handling charges merely reflected expenses actually incurred and formed part of the price paid. For bricks, the charged rate also left no profit after overheads and the uncertain transport component were taken into account. The supplies therefore did not yield taxable profit, and the issue was answered against the existence of any profit element. Case-Laws VAT and Sales Tax Tue, 14 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100729