Supreme Court of India
Burmah Shell Oil Storage and Distributing Company of India Ltd. (now Known as Bharat Petroleum Corporation Ltd.) v. The Commissioner of Income Tax (central), Calcutta
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/Income Tax Rules, 1962. Sections 32(1)(iii), 33, 34(3)(a)/R.5, Appendix I, Item M(2)(2)(d)(i) Depreciation-Development rebat..-Liquid petroleum gas cylinder,-Sale of by Distributor to Refinery-Shortfall in sale-Distributor company claiming deduction of t11e amount-Held, assessee was not entitled to claim deduction u/s. 32 (l)(iii) as it had not written off the amount in its books of account Nor was assessee entitled to development rebate as it did not transfer excess amounts of earlier years in the accounting year for purposes of making up corresponding reserve and did
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