https://www.taxtmi.com/caselaws?id=8859 The High Court of Madras ruled in favor of the assessee, a construction firm, in a case concerning the inclusion of Government-supplied materials in total receipts for profit calculation. The Court agreed with the Tribunal that as there was no profit motive in acquiring materials from the Government, the cost of materials should not be considered in total receipts. Emphasizing that the turnover from these materials did not contribute to the assessee's profit, the Court dismissed the revenue's claim, citing a similar decision by the Kerala High Court and ordering no costs to be paid. en-us Wed, 14 Mar 1973 00:00:00 +0530 Tue, 16 Jun 2009 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8859 The High Court of Madras ruled in favor of the assessee, a construction firm, in a case concerning the inclusion of Government-supplied materials in total receipts for profit calculation. The Court agreed with the Tribunal that as there was no profit motive in acquiring materials from the Government, the cost of materials should not be considered in total receipts. Emphasizing that the turnover from these materials did not contribute to the assessee's profit, the Court dismissed the revenue's claim, citing a similar decision by the Kerala High Court and ordering no costs to be paid. Case-Laws Income Tax Wed, 14 Mar 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8859