https://www.taxtmi.com/caselaws?id=38269 The court upheld the Tribunal's decision to include the cost of materials supplied by the Government in calculating the net profit of the assessee for the assessment years 1964-65 and 1965-66 under the Income-tax Act, 1961. The court found that the assessee had knowledge of the materials provided by the Government and had factored in a profit margin when tendering for the contract. The court distinguished previous cases cited by the assessee and affirmed the Tribunal's decision, ruling in favor of the revenue. Each party was directed to bear its own costs, with Judge R. N. Pyne concurring. en-us Thu, 05 Dec 1974 00:00:00 +0530 Mon, 05 Apr 2010 12:35:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38269 The court upheld the Tribunal's decision to include the cost of materials supplied by the Government in calculating the net profit of the assessee for the assessment years 1964-65 and 1965-66 under the Income-tax Act, 1961. The court found that the assessee had knowledge of the materials provided by the Government and had factored in a profit margin when tendering for the contract. The court distinguished previous cases cited by the assessee and affirmed the Tribunal's decision, ruling in favor of the revenue. Each party was directed to bear its own costs, with Judge R. N. Pyne concurring. Case-Laws Income Tax Thu, 05 Dec 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38269