Labour matetrial ratio in case of road contractors
This query is : Resolved
17 December 2009
One of my assessee is a road contractor . The assessing officer is not accepting the ratio of 40% labour and 60% material . Net prfoit shown (before salary and interest to partners is 10% of gross receipts.Please quote come case laws where 40:60 ratio for labour and material is justified.
17 December 2009
In Service Tax, Govt has already accepted this ratio.
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