Supreme Court of India
Commissioner of Income-tax, Madras v. Prithvi Insurance Co. 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.
4 Supreme Court benches have cited this judgment.
From the headnote
Indian Income-tax Act, 1922, s. 24(2)-lnsuronce company carrying on life insurance business as well as general insurance business-Such busi nesses whether one business for purpose of rection. The respondent rompany carried on business of life and general insu rance. In assessment·proceedings ior the year 1951-52, the Income.tax Officer held that the life insurance business and the general insurance busi ness carried on by the company were 'distinct and separate' and the loss carried forward from the previous year in respect of life insurance business could not be set off under s. 24(2)
Where later benches applied it
- 1978 B. R. Ltd. v. V. P. Gupta, C.I.T., Bombay
- 1971 Standard Refinery & Distillery Ltd. v. Commissioner of Income-tax, Calcutta
- 1970 Produce Exchange Corporation Ltd. v. Commissioner of Income Tax
- 1969 Hoogly Trust (private) Ltd. v. Commissioner of Income-tax, West Bengal and Andaman and Nicobar Islands
Of those, 4 mentioned
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