1973 (9) TMI 35

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....rences Nos. 2 and 3 of 1973. In these references a single question of law has been referred for our opinion, namely: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the cost of material supplied by the Government was not to be included while estimating the profit of a contractor ?" The assessee is a registered firm. It derives its incom....

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....605 because of the addition of the value of the material supplied by the department. A sum of Rs. 5,107 was allowed depreciation. The total income was determined at Rs. 25,653. The same procedure was followed for the assessment year 1966-67 and the total income was assessed at Rs. 76,070. The assessee was aggrieved against these orders and preferred appeals to the Appellate Assistant Commissioner ....

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....ncluded while estimating the profits of a contractor ?" That is how these cases have been placed before us. The learned counsel for the department relies on the decision of this court in Brij Bushan Lal v. Commissioner of Income-tax. I was a party to this decision. On the other hand, Mr. Bhandari, learned counsel for the assessee, draws our attention to the decision of the Kerala High Court rep....