Supreme Court of India
M/s W.T. Suren and Co. Ltd v. Commissioner of Income Tax, Bombay
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 J0(2)(xv). Income Tax--AY 1960-61-Business Expenditure-Gratuity-Payment of-By assessee to the transferee-company on tranifer of a part of its business- Deductability of- .ssessee, a private limited company, stopped and traniferred the activities of its distribution unit to the transferee-However, other business of assessee continued-Assessee terminated sen1ices of the employees of that distribution unit-Transferee offered these employees similar employment with continuity of sen1ice and assured payment of gratuity due to them under it together with that accrued
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