COMMISSIONER OF INCOME TAX Vs. S P VIZ CONSTRUCTION COMPANY

JUDGEMENT

(1.) THIS is a reference under Section 256(2) of the Income-tax Act, 1961. The following question has been referred to us for our opinion :

(2.) THE relevant assessment year is 1974-75.

(3.) I, therefore, hold that, on the facts and in the circumstances of this case, the cost of materials supplied to the assessee by the military authority was not liable to be included in the total receipts of the assessee for calculating its profits for the assessment year 1974-75. The reference is thus answered in favour of the assessee and against the Revenue, but without costs.