https://www.taxtmi.com/caselaws?id=56881 Where the Government supplied cement and other materials at fixed rates under the contract, their value could not be treated as the assessee's own contract turnover for estimating profit. The assessee earned no profit on the cost of those Government-supplied materials, as the contract terms supported that position and the estimating authority's assumption was misplaced. The addition made by applying estimated profit to the value of such materials was therefore not justified and was deleted in favour of the assessee. en-us Tue, 28 Mar 1978 00:00:00 +0530 Tue, 07 Dec 2010 12:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56881 Where the Government supplied cement and other materials at fixed rates under the contract, their value could not be treated as the assessee's own contract turnover for estimating profit. The assessee earned no profit on the cost of those Government-supplied materials, as the contract terms supported that position and the estimating authority's assumption was misplaced. The addition made by applying estimated profit to the value of such materials was therefore not justified and was deleted in favour of the assessee. Case-Laws Income Tax Tue, 28 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56881