Supreme Court of India
Petron Engineering Construction Pvt. Ltd. & Another v. Central Board of Direct Taxes & Others
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 are of the view that a "foreign enterprise" is an enterprise situate in a foreign country having been created _or registered in accordance with the law of such G country.
Judgment, page 10
From the headnote
Income-tax Act, 1961: Section 80-0-Deduction in respect of royalties-Permissible only when it is from government of foreign state or foreign enterprise. Words and Phrases: "Foreign enterprise"-'Foreign Company' -Meaning of. Interpretation of statutes: Interpretation of expressions to be con . , sistent with the thing or objects included within it: Court to look at the setting in which the words are used; in the case of an exemption provi sion, liberal interpretation to be made without impairing the legislative requirement and the spirit of the provision. ' Messrs Toyo Engineering
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