Supreme Court of India
The Commissioner of Income-tax, West Bengal v. Kalu Babu Lal Chand
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
Income-tax-Income of the Hindu undivided fam'ily-Manager of the joint family using family funds for promoting company and subsequently becoming managing director-Remuneration of the managing director-Whether taxable as income of the undivided family. R was the karta of the Hindu undivided family which became interested in a business concern which ~'as then being carried on by others. With a view to taking over the said business as a going concern, a company was floated \vith R as one of the promoters. Pursuant to an agreement with the vendors of the business and in anticipation of the
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