Supreme Court of India
H.H. Sir Rama Varma (dead) by L.rs. v. Commissioner of Income-tax, Kerala
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
In the result, we uphold impugned judgment and order and dismiss the appeal.
Judgment, page 9
From the headnote
Income Tax Act, 1961: Section BOT-Capital gains-Capital loss-Set off-Deduction-Whether to be given only for the amount of capital gains after set-o!f-"Expression "such income''-Meanings of. . Words & Phrases : "Such income" in the context of S.BOT of Income Tax Act.· 1961-Meanings of. During the accounting year relevant to the assessment year 1970-71, the appellant-assessee made long-term capital gains, brought forward a · long-term capital loss from previous year to be set-off against the capital gains and claimed a deduction u/s. SOT of the Income Tax, 1961, . of an amount as it stood
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