Supreme Court of India
The Commissioner of Income Tax and Excess Profits Tax, Madras v. The South India Pictures Ltd., Karaikudi.
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
Indian Income Tax Act, 1922 .(XI of 1922), s. 10-Whethsr money received by the Assessee in the accounting period-As a revenue receipt or capital receipt-On the facts and in the circumstances of the instant case. The assessee-a. private limited company-carried on the busi· ness of distribution of films. In some instances the assessee used to produce or purchase films and then distribute the same for exhibi· tion in different cinema halls and in other cases the assessee used to advance monies to producers of films and secure the right of distri· bution of the films produced with the help of the
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