Supreme Court of India
Commissioner of Income Tax, Gujarat-ii, Ahmedabad v. R. M. Amin
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 Act 1961-Sec. 2(17), 2(47), 45, 46(2)-Capital fains- Distribution of assets by a liquidator of company in voluntary liquidatiofl-lf liable to capital gains tax-If foreign company whiclt is not a company within the meaning of the Income Tax Act-Company-Meaning of-Transfer. The respondent assessee acquired before 1-1-1954 certain shares in a private limited company incorporated in Uganda for Sh. 192002=Rs. l ,28,000 /-. The said company went into voluntary liquidation in the year 1961. The liquidators sold the assets of the company and the assessee received an amount equivalent to
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