Supreme Court of India
The Cotton Agents Ltd., Bombay v. Commissioner of Income-tax, Bombay
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-Managing Agency Agreement-Proper construction of-Commission on sale proceeds of the managed company-Time of accruing. Messrs. Shivnarayan Surajmal Nomani were the managing agents of the New Swadeshi Mills of Ahmedabad Ltd. The Nemani group and the appellant-company which is the assessee - - ,J .. ,..,. ... 3 · S. .R. SUPREME COURT REPORTS 811 held a substantial number of shares of the said mills. Sometime z96o 'in 1944 some difference arose between them and it was decided -- that the Nemani group should sell its block of shares to the Cotton gents l.td. appellant company at an
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