Supreme Court of India
The First National City Bank v. The 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
Business Profits Tax-" Undivided profits ", if fell within the word" reserves "-Business Profits Tax Act, I947 (XX! of r947), Sch.[[, Rule 2(I). The appellant, a non-resident Banker incorporated under the National Bank Act of the United States of America with its Head Office in America, was assessed under Business Profits Tax Act, 1947· Under the Treasury Rnles of the United States of America and Instructions for preparation of reports of condi tions by the National Banking Association certain sums had to be specifically allocated under s. 52n of the Revised Statute of the United States, and
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