https://www.taxtmi.com/caselaws?id=26294 The High Court held that the cost of materials supplied by the Government need not be included in the assessee's total receipts for profit calculation in the assessment year 1967-68. The court affirmed that only the net amount received by the assessee was relevant for determining profits, especially when the assessee lacked control over the supplied materials. The judgment favored the assessee and directed the transmission of the order to the Income-tax Appellate Tribunal in compliance with the Income-tax Act, 1961. en-us Sun, 13 Oct 1985 00:00:00 +0530 Thu, 04 Feb 2010 10:51:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26294 The High Court held that the cost of materials supplied by the Government need not be included in the assessee's total receipts for profit calculation in the assessment year 1967-68. The court affirmed that only the net amount received by the assessee was relevant for determining profits, especially when the assessee lacked control over the supplied materials. The judgment favored the assessee and directed the transmission of the order to the Income-tax Appellate Tribunal in compliance with the Income-tax Act, 1961. Case-Laws Income Tax Sun, 13 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26294