https://www.taxtmi.com/caselaws?id=8860 In an estimated assessment of a contractor, the cost of materials supplied by the Government could not be included in turnover for applying the profit rate because there was no evidentiary basis to treat those materials as a profit-making component. The court noted that the assumption of profit from such supplies was conjectural, while the available certificates showed profit was computed only on labour charges and not on departmental materials. On the facts, inclusion of the Government-supplied material cost in turnover was unsupported by evidence and therefore not justified in law. en-us Sun, 10 Jul 1966 00:00:00 +0530 Tue, 16 Jun 2009 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8860 In an estimated assessment of a contractor, the cost of materials supplied by the Government could not be included in turnover for applying the profit rate because there was no evidentiary basis to treat those materials as a profit-making component. The court noted that the assumption of profit from such supplies was conjectural, while the available certificates showed profit was computed only on labour charges and not on departmental materials. On the facts, inclusion of the Government-supplied material cost in turnover was unsupported by evidence and therefore not justified in law. Case-Laws Income Tax Sun, 10 Jul 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8860