https://www.taxtmi.com/caselaws?id=39131 The Full Bench of the Andhra Pradesh High Court held that the value of materials supplied by the railway authorities should not be included in the gross receipts for estimating the net income of the assessee for the assessment years 1964-65 to 1967-68. The court ruled in favor of the assessee, stating that including such costs would not reflect the actual profits earned as the materials did not contribute to the profits. The Tribunal's decision to exclude the value of materials from gross receipts was upheld, with costs awarded to the assessee. en-us Thu, 23 Sep 1976 00:00:00 +0530 Tue, 13 Apr 2010 11:34:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39131 The Full Bench of the Andhra Pradesh High Court held that the value of materials supplied by the railway authorities should not be included in the gross receipts for estimating the net income of the assessee for the assessment years 1964-65 to 1967-68. The court ruled in favor of the assessee, stating that including such costs would not reflect the actual profits earned as the materials did not contribute to the profits. The Tribunal's decision to exclude the value of materials from gross receipts was upheld, with costs awarded to the assessee. Case-Laws Income Tax Thu, 23 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39131