Supreme Court of India
Commissioner of Income Tax, Bihar-ii, Patna. v. Bokaro Steel Ltd. Bokaro
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-Assessee-Bokaro Steel Limited-During construction of factory and before commencement of business sums received by it as : (a) rent for housing workers and staff employed by contractors; (b) hire charges for plant and machinery given to the contractors for use in construction work of assessee; (c) interest from advances made to the contractors by assessee for purpose of facilitating work of construction Held, these are receipts of capital nature and cannot be taxed as income These receipts being inextricably linked with the setting up of the capital structure of the
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