Supreme Court of India
Raghuvanshi Mills Ltd. v. Commissioner of Income-tax, Bombay City
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Incmne-tax-Moneys received under "consequential loss policies" -Whether incmne-Assessability-Dejinition of "incmne"-Exemp tion of receipt not arising out of business-Indian Income-tax Act, (XI of 1922), ss. 2 (6C), 4 (3) (vii). The appellant mills had insured its building, plant and machinery with various insurance companies against fire and had aiso taken out some policies of the type known as "consequenffial loss policies" which insured against loss of profits, standing charges, and agency commission. The mills were completely destroyed by fire and the appellant received certain sums of
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