9911796707
TMI Blog1976 (5) TMI 36X X X X Extracts X X X X X X X X Extracts X X X X ..... evious year ending 31st March, 1972, relevant for the asst. yr. 1972-73. While completing his assessment under s. 143(3) of the IT Act, 1961, the ITO estimated the cost of materials supplied to the assessee by the Railways and the M.E.S. for the purpose of executing the works entrusted to him and added the same to the bill amounts received by the assessee and estimated the assessee s net profit on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under appeal. It is seen therefrom that in respect of the work relating to construction of 16 units Type 11 quarters at Jabalpur for the Central Railways, cement was supplied to the assessee for execution of the work by the Central Railways and deductions for such cement supplies were made @ Rs. 11 per bag of 50 Kg. This clear from cl. 4 at page 34 of the original agreement dt. 20th Feb., 1971. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the concerned Department was to supply the required cement for the execution of the works, under those agreements and that the rates quoted by the assessee had been adjusted on that basis. It therefore, follows that there was no question of the assessee s purchasing these materials required for the works from outside and putting himself to a disadvantage. There is no dispute that cement was su ..... X X X X Extracts X X X X X X X X Extracts X X X X
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