Supreme Court of India
Commissioner of Income Tax, Patiala v. M/s. Groz Backert Saboo 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
Taxable Profits-Computation of taxable property, when an assessee con verts his capital assets received as gift, into stock-in-trade and starts dealing in them, explained. During the assessment year 1962-63, the corresponding accounting year being the financial year ending 31st March, 1962, in respect of goods partly of raw materials and partly of semi-finished needles gifted by their colla borators in West Germany, the respondent assessee made entries in their books of account for the first time on 30th September 1961, as follows : Rs. 44.448.20 debited to the account of 'wire and strip'
Sign in free to read it
- The full judgment, page by page, as published in the Supreme Court Reports
- Every bench that relied on it, and every bench that argued against it
- Search every reported judgment, by party, citation or question
- Download the PDF, copy pinpoint citations ready for a filing
An email address, no password.