Supreme Court of India
M/s. George Williamson (assam) Ltd. v. Commissioner of Income Tax, Gauhati
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
We are of the view that the capital reserve of Rs. 1,43,055 H representing the difference between the value of assets taken over GEORGE WILLIAMSON (ASSAM) LTD. v.
Judgment, page 10
From the headnote
Companies (Profits) SurtaxAct, 1964-Second schedule, Rule J(iii) and Rule 2 Explanation-Surtax-statutory deduction-Computation of capital of a company, for the purpose of surtax assessment-Appellant company acquiring the Indian undertakings of UK registered companies in accordance with a Scheme of Arrangement-RBI approving the price with the stipulation that there should not be any depletion in the net assets on the date of acquisition from that given in the balance sheets of previous year-Value of the net assets maintained exceeded the price approved by RBI-The differential amount shown by
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