Supreme Court of India
Commissioner of Income-tax, Punjab Jammu & Kashmir, Himachal Pradesh and Patiala v. Punjab Distilling Industries 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
Income Tax-Distiller taking deposit refundable on return of bottles-Balance of deposits after refund, if trading re ceipt-Indian Income-tax Act, 1922 (11 of 1922), s.10. The assessee, a distiller of country liquor, carried on the business of selling liquor to licensed whole salers. The assessee '5tarted collecting from its customers from the year 1945 besides the price of the liquor and the bottles in which the liquor was sold a further charge called "empty bottles return security depo sit." The entire sum collected on this account in respect of any one transaction would be refunded in full
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