Supreme Court of India
Devi Cine Projector Manufacturing Co., Etc. Etc. v. Commissioner of Income Tax
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: Section 40(b)-Disallowance of interest- Firm paying interest to partner-Partner also paying interest to firm on c borrowing from firm-Whether such interest to be confined only to net amount after setting off interest paid by partner. Constitution of Lndia, 1950: Article lJ(r-Special Leave Petitions ~ filed against High Court's rejection of assessee's applications under Sec- lion 256(2) of the Income Tax Act, 1961-/n view of settled position on point of law involved and to avoid time consuming procedure, Special Leave Petitions treated as arising out of appellate orders
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