Supreme Court of India
Commissioner of Income Tax, Delhi Central v. Modi Spinning and Weaving Mills Co. Ltd.
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, 1922-Section 10(2)(vib), Proviso (b) and CBDT Circular dated October 14, 1965 Explanations (a), (b) and (c) Allowance of development rebate on plant and machinery--Entitlement to by assessee. In Commissioner of Income Tax, Madras v. Veeraswami Nainar & 0 rs., SS ITR .3S, the Madras High Court took the view that the aevelop ment rebate reserved shonld be made at the time of making up the Profits and Loss ~count, and this was affirmed by this Court in Indian Overseas Bank's Ltd. v. Commissioner of Income Tax, 77 ITR S12. distinction "'as drawn between development rebate reserve
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