https://www.taxtmi.com/caselaws?id=26293 The High Court upheld the Tribunal's decision that the cost of materials supplied by the Department need not be included in the total receipts for profit calculation for the assessment year 1968-69. The Court found the Tribunal's findings to be well-founded and aligned with legal principles established in previous cases, determining that no profit element is involved when contractors only have custody of materials supplied by the Department. Consequently, the Court ruled in favor of the assessee, relieving the Revenue from including the cost of materials in profit calculations. en-us Wed, 21 Nov 1984 00:00:00 +0530 Thu, 04 Feb 2010 10:50:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26293 The High Court upheld the Tribunal's decision that the cost of materials supplied by the Department need not be included in the total receipts for profit calculation for the assessment year 1968-69. The Court found the Tribunal's findings to be well-founded and aligned with legal principles established in previous cases, determining that no profit element is involved when contractors only have custody of materials supplied by the Department. Consequently, the Court ruled in favor of the assessee, relieving the Revenue from including the cost of materials in profit calculations. Case-Laws Income Tax Wed, 21 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26293