Supreme Court of India
Commissioner of Income Tax West Bengal - I, Calcutta. v. Associated Electrical Industries (india) Private Limited.
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 High Court is right in answering the question referred to it in the affirmative, in favour of the assessee and against the Commissioner of Income-tax.
Judgment, page 7
From the headnote
Indian Income Tax Act 1922 Sections 10(2) (xv) and 10(4)(c). Company - Pension and Life Assurance Plan for employees - Company contributing to premium - Plan rules amended to make direct payment of policy amount to members - Company having no control over money - Expenditure incurred on contribution by company to Plan - Whether an allowable deduction• The asses see, is s' . firm carrying on the busine&s of Electrical Engineers and Contractors. It put into effect a pension and Life Assurance Plan for its Europe&n employees about the year 1948 and took out policies with a Life Assurance Society
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