Supreme Court of India
Commissioner of Income-tax, Mysore, Banglore v. The Mysore Electrical 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
Companies (Profits) Surtax Act, 1964-Second Schedule, r. 1-Sums .appropriatrd by towards reserves not on the first day of 'the year but later -Should be treated a.r effective from the earlier date since divirion of ·undistributed profits became effectiw from that day. On the question whether three several sums appropriated by the Direc tors of the respondent-company towards reserves on the 8th August , 19o3 out of the profits of the year ending 31st March, 1963, should be added to other items for computation of the capital of the respondent as on the 1st day of April, 1963 in terms of rule I
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