Cooperative Principle (CP) put forth by H. P. Grice (1975) imposes certain restrictions on speakers of any communication with its maxims, i.e., Maxim of Manner, Maxim of Relevance, Maxim of Quantity, and Maxim of Quality. The idea of this study is to examine the degree to which the conversational maxims are either violated or disregarded by the main characters in “Profit and Loss”(1891). Also, it aims to discover if there are any instances in which the addressees opt out of the discussion. A descriptive qualitative method was adopted to gather, analyze and interpret data. The results of this research show that in 18 instances (the highest), the characters violated /flouted the maxim of quality, and in 7 occasions (the least), they debased the maxim of relevance. As per the study results, it can be resolved that although cooperative principle defines the paramount practices to be followed in Communication to facilitate the smooth flow of conversation, speakers often are non-adherent to these maxims: they defy, violate, or opt-out to achieve their purposes. This study on flouting of conversational maxims in Profit and Loss also identifies Rabindranath Tagore as the trailblazer of Bengali Renaissance by his portrayal of the new woman who was not terrified to question the social norms in her struggles for freedom and equality and who remained loyal to the prototype image of the customary Indian womankind.