Supreme Court of India
Madnani Development Corpn. (p) Ltd. v. 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
Income Tax Act, 1961-s. 70--Assessee- Contractor-Fur· chased two plots of lands for excavation of land to fu.lfil railway c contract-After work completed lands sold-Loss incurred-Whether capital or revenue loss. -- The assessee-company while carrying on business as a Contractor entered into a contract with the Railway Administration, inter alia, for the execution of earth work required for the construction of a new rail- way yard. For this purpose, the assessee purchased two pieces of land at a total cost ofRs.68,241. Soon after the work was over, the assessee sold both lands for a sum of
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.