https://www.taxtmi.com/caselaws?id=39380 The court decided that the value of materials supplied by railway authorities should not be included in the total receipts of the assessee for calculating net profits. The contract fell under Category 1, where materials provided by the railway authorities were not considered part of the contractor's receipts. The court ruled in favor of the assessee, directing the Tribunal to determine the appropriate percentage of total receipts for estimating net profits without including the value of materials supplied by the railway authorities. The Commissioner was ordered to bear the costs of the reference to the assessee. en-us Mon, 15 Mar 1976 00:00:00 +0530 Fri, 16 Apr 2010 11:10:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39380 The court decided that the value of materials supplied by railway authorities should not be included in the total receipts of the assessee for calculating net profits. The contract fell under Category 1, where materials provided by the railway authorities were not considered part of the contractor's receipts. The court ruled in favor of the assessee, directing the Tribunal to determine the appropriate percentage of total receipts for estimating net profits without including the value of materials supplied by the railway authorities. The Commissioner was ordered to bear the costs of the reference to the assessee. Case-Laws Income Tax Mon, 15 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39380