1973 (9) TMI 35 - HC - Income Tax

Summary

The High Court of Punjab and Haryana addressed Income-tax References Nos. 2 and 3 of 1973 concerning the inclusion of the cost of material supplied by the Government in estimating a contractor's profit. The Tribunal's decision was challenged, but the High Court upheld it, ruling in favor of the department and against the assessee. The decision was based on precedent and no costs were awarded.