Supreme Court of India
Commissioner of Income Tax v. Mugneeram Bangur & Co.
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
in that case. "In 1920, two partners carrying Off business in New Zealand as general merchants and drapers sold the partnership business to a limited company in which they beca,me the only shareholders. The sale was of the entire assets, including goodwill, the consideration being fully paid shares, and an agreement by the company to discharge all the liabilities. The. nominal value of the shares being more than the sum to the credit of the capital a1ccouni of the partnership, in its last balance sheet. a new balance sheet was prepared show ing a larger value for the stock in trade. The
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