https://www.taxtmi.com/caselaws?id=25882 The High Court of Patna addressed a partnership firm's profit estimation for the assessment year 1974-75, involving materials supplied by a third party. The Court held that profit calculation should consider the actual control and use of materials during contract execution. Relying on previous decisions, the Court remanded the matter to the Tribunal to determine the facts and align the final order with established legal principles. The decision emphasized the importance of evaluating the practical circumstances of material supply in contract works for accurate profit calculations. en-us Fri, 06 Mar 1987 00:00:00 +0530 Mon, 01 Feb 2010 14:24:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25882 The High Court of Patna addressed a partnership firm's profit estimation for the assessment year 1974-75, involving materials supplied by a third party. The Court held that profit calculation should consider the actual control and use of materials during contract execution. Relying on previous decisions, the Court remanded the matter to the Tribunal to determine the facts and align the final order with established legal principles. The decision emphasized the importance of evaluating the practical circumstances of material supply in contract works for accurate profit calculations. Case-Laws Income Tax Fri, 06 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25882