TMI Blog1977 (7) TMI 83X X X X Extracts X X X X X X X X Extracts X X X X ..... h was preceded by a tender the materials were to be supplied by the Government. The assessee entered into a contract for laying down roads and the Government had to supply certain materials viz., bitumen. It is also submitted that hire charges for the rollers supplied by the Government were also paid by the contractor. That is how out of the total receipts the deductions to the extent of Rs. 48,43 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay hire charges therefore. Therefore the net receipts only should be taken into account. 3. In regard to the rate of profit we find that 15 per cent is on the high side. We have come across a number of cases where 12-1/2 per cent is usually adopted. There are cases where lesser percentage is adopted. Having regard to the facts of the case we fix the percentage at 12-1/2 per cent on the net recei ..... X X X X Extracts X X X X X X X X Extracts X X X X
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