1974 (8) TMI 26

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....t departments. He filed a return declaring an income of Rs. 20,852 from his contract business and from a printing press which he runs. It has been the assessee's case throughout that he has not maintained any accounts for the various contract works executed by him. He, however, produced receipts showing the amounts received by him from the Government for the various contract works executed by him. He supplied the following figures for the three assessment years in question : ---------------------------------------------------------------------------------------------------------------------------------- Period Gross amount Material supplied Net amount by the Govt. -------------------------------------------------------------------....

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....ed 21st December, 1966 (V. D. Rajarathanam v. Commissioner of Income-tax), and that where an assessee does not at all place his accounts and says that he has no accounts at all to be placed, the estimate of his profits or income has to be made on the basis of the value of the total bills and not on the basis of the net amount received by him after deducting the cost of material supplied by the Government from the gross value of the bills. A similar contention, as is now put forth by Mr. Subbaiah on behalf of the assessee, was raised before Chief Justice Jaganmohan Reddy (as he then was) and Justice Anantanarayana Ayyar in the abovesaid R.Cs., i.e., R.Cs. 52/62 and 36/66 and that was repelled by the learned judges observing : " The content....