profit declared was
3.09%. He, however, noted that assessee had sublet contract work of
Rs.5,31,35,619 from which net profit ... that no other expenditure was incurred by
assessee against such sublet contract work. Thus, the assessee itself
executed the contract work with gross receipts
provided for "not to be sublet" wherein the contractor was prohibited to sublet the contract to any other party without the prior approval ... assigned or sublet without the written approval of the Divisional Officer. And if the contractor shall assign or sublet his contract, or attempt
contract work on behalf
of the company or due you provide any sub contract
work to Mahesh & Co.?
Ans. There were only one/sublet
Ahmedabad
running from pages 1 to 79. On perusing the contracts executed by
the assessee and Institute for Plasma Research, for whom the
assessee ... Contract" The contract shall not without prior consent
in writing of the IPR assigns or sublet-contract or any part
thereof.
9. From
amounting to Rs.2,01,94,365/-, 5% net profit on sublet contract
work amounting to Rs.50,14,247/- and 5% net profit ... comprising of the above
three additions of self executed contract work, sublet contract work and
black metal sales (supra). He was inter alia
amount of cheques received in respect of sublet contract work is
Rs.32,13,688/-. It has been noticed that the difference between the amount
that portion of the contract which is given away on sub-contract from the
gross income on account of the contract work. In support ... that the assessee is declaring
income on account of commission of contract sublet to the extent of
Rs.16.38 lacs in assessment year
addition to what has been stated in para above, the contract may be terminated and any other dues of this work or any other work ... with Coal Company and that there was no further agreement or contract to sublet the work to the owners of the tipper truck
allowed.
The contract at Sr.No.4 was an agreement between the appellant and other
person was allotted the contract by the principal. The terms ... contract
were perused and it was noticed that the work was originally not allotted to the appellant
but he got the contract on subletting basis
after obtaining the contract from the RVNL it
was assigned to its constituents for its execution. On the execution of the
contract by the constituents ... order) and
the Tribunal has held that there was no subletting of contract to the
constituents by the Joint Venture. The relevant observations
