Supreme Court of India
Patnaik & Co. Ltd. v. The Commissioner of Income Tax, Orissa
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
Business loss-Purchase of Government bonds or securities with the object of increasing the assessee's business with the Government c and/or retaining the goodwill of the authorities for the purpose of its business and loss incurred thereby-Whether capital loss or revenue loss. Jurisdiction of the High Court in a reference under the Income Tax Act-Interference with finding of facts, whether permissible. Supreme Court Rules, 1966 Order XL VII Rule 6-Supreme Court can itself decide the questions referred to the High Court to avoid + further delay instead of remanding the case. The assessee deals
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