1984 (11) TMI 7

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....bunal, 'A' Bench, Patna, referring the following question of law for our opinion under section 256(2) of the Income-tax Act, 1961, pursuant to the direction of this court : "Whether, on the facts and in the circumstances of the case, the cost of materials supplied by the Department was liable to be included in the total receipts of the assessee for calculation of its profit for the assessment y....

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....e case. On appeal, the Appellate Assistant Commissioner observed that no profit was involved on the materials supplied by the companies concerned to the assessee and, as such, the rate of net profit at 10% should be applied on the net receipts of Rs. 3,71,346. He, therefore, estimated the net profit at Rs. 37,134 and also allowed depreciation on it. A copy of the first appellate order has been ....

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....ification for interfering with the Tribunal's order. The Tribunal has given findings of facts based on materials on record which have not been shown to be either perverse or based on no material on record or as not having been well instructed on matters of fact and law as was done by the Supreme Court in the case of CIT v. S. P. Jain [1973] 87 ITR 370. The finding of the Tribunal on facts being ba....