Supreme Court of India
Commissioner of Income-tax, Madras v. K. H. Chambers, Madras
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
The Income-tax Act, (XI of 1922), s. 25(4)-.Succession-What is Finding regarding succession-High Court-Jurisdiction to review. Succession contemplated by s. 25 ( 4) of the Indian Income-tax Act (XI of 1922) involv.S change of ownership, that is, the transferor goei out and the transferee comes in. It connotes that the whole business is trans ferred. It also implies that substantially the identity and the continuity of the business are preserved. If there is a transfer of a business, any arrangement between the transferor and the transferee in respect of some of the assets and liabilities,
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