Supreme Court of India
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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.
What the Court ordered
We hold that the income derived by the assessee from the business carried on by it, held under trust, is exempt from income tax under Section 11 of the Act.
Judgment, page 13
From the headnote
JUDGMENT: J U M N T Paripoornan,J. The appellant is a trust. The Trust was created on 4.6.1962. The trust called "Thiagarajar Charities" is an assessee to income tax. In this batch of appeals, we are concerned with the three assessment years 1964-65,1965-66 and 19966-67. common question of law arises for consideration herein. The Income-tax Appellate Tribunal referred two identical questions of law for the above three years, to the High Court of Madras for its decision.
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