https://www.taxtmi.com/caselaws?id=26444 In a works contract, profit computation depends on control over the materials used: where the contractor has exclusive control, profit is computed on gross receipts; where the department retains exclusive control over materials supplied, profit is computed on net receipts. The Tribunal had not examined the assessment on that legal footing, so the reference could not be answered on the existing record. The matter was therefore sent back to the Tribunal for reconsideration and disposal according to law. en-us Wed, 07 May 1986 00:00:00 +0530 Fri, 05 Feb 2010 10:27:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26444 In a works contract, profit computation depends on control over the materials used: where the contractor has exclusive control, profit is computed on gross receipts; where the department retains exclusive control over materials supplied, profit is computed on net receipts. The Tribunal had not examined the assessment on that legal footing, so the reference could not be answered on the existing record. The matter was therefore sent back to the Tribunal for reconsideration and disposal according to law. Case-Laws Income Tax Wed, 07 May 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26444