Supreme Court of India
Commissioner of Income-tax, Nagpur v. Rai Bahadur Jairam Valji and Others
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.
What the Court ordered
In the result, the appeal is allowed, the judgment of the High Court set a.side and the order of the Tl'ibuna.l restored.
Judgment, page 24
From the headnote
Income Tax-Capital or Revenue receipt-Compensation for premature termination of contract_..:.Whether trading reccipt-Liabi· lity to tax-Indian Income-tax Act, r922 (XI of r922). The respondent had been carrying on business in the produc tion and supply of limestone since 1920, and under an agreement entered into with the Bengal Iron Company was supplying all its requirements of limestone and dolomite. Sometime later the Indian Iron and Steel Company took over all the assets and liabilities of the former company. Subsequently differences having arisen between the respondent and the Indian
Sign in free to read it
- The full judgment, page by page, as published in the Supreme Court Reports
- The ratio: what the Court held, verbatim, with the page it sits on
- Every bench that relied on it, and every bench that argued against it
- Search every reported judgment, by party, citation or question
- Download the PDF, copy pinpoint citations ready for a filing
An email address, no password.