Supreme Court of India
The State of Madhya Pradesh v. Binod Mills Company Ltd.
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
War Profits Tax-Assessment o.f company's profits Deduction of managing agent's remuneration-" Included in the profits of the managing agency bu,qiness"-Gwalior War Profits Tax Ordinance, Samvat 2001, ss.2(.5), 2(10), 4(1), 5(1), Sch.I, r.4( 1) proviso (b). Sub-rule (1) of r.4 of Sch. I to the Gwalior War Pro fits Tax Ordinance, Samvat 2001, provided: "In computing the profits of a bu~iness carried on by a company, no deduc tion shall be made in respect of the remuneration paid to directors if during any part of the accounting period concerned, they had cuntrolling interest in the company;
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