https://www.taxtmi.com/caselaws?id=27072 The High Court determined that the inclusion of material cost in total receipts for income computation in M.E.S. contracts was not justified for the assessment years 1968-69 and 1969-70. Emphasizing previous Supreme Court judgments and the nature of M.E.S. contracts where materials are supplied by the Government, the Court ruled in favor of the assessee. It found that the contract payments essentially covered the cost of work minus the materials supplied, aligning with established legal principles. The Court rejected the Department's arguments based on irrelevant cases and directed each party to bear their own costs. en-us Wed, 10 Apr 1985 00:00:00 +0530 Wed, 10 Feb 2010 15:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27072 The High Court determined that the inclusion of material cost in total receipts for income computation in M.E.S. contracts was not justified for the assessment years 1968-69 and 1969-70. Emphasizing previous Supreme Court judgments and the nature of M.E.S. contracts where materials are supplied by the Government, the Court ruled in favor of the assessee. It found that the contract payments essentially covered the cost of work minus the materials supplied, aligning with established legal principles. The Court rejected the Department's arguments based on irrelevant cases and directed each party to bear their own costs. Case-Laws Income Tax Wed, 10 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27072