Supreme Court of India
Commissioner of Income-tax, Punjab v. Indian Woollen Textile Mills
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-Tribunal ignores essential evidence-Refusal to state case-Power of High Court-Income-tax Act, 1922(11 of 1922), ss. !SC & 66(1) (2). 'Eldee', one of the branches of the respondent had advanced a loan to another concern, 'Castle'. The respondent claimed under s. I SC of the Income Tax Act, exemption from tax in respect of 6 % of the capital employed in 'ElcJee' as a newly established undertaking and sought to include in the computation of the capital so employed the amount advanced to 'Castle'. The Income tax Appellate Tribunal directed inclusion of the amount advanced to 'Castle'
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