Supreme Court of India
Commissioner of Income Tax, Chennai v. M/s Bilahari Investment (p) Ltd.
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: Chit Fund Scheme - Income - Assessment of - Accounting of chit discount - Completed Contract Method of c accounting or Deferred Revenue Expenditure Method - Claim for chit discount - Held: Income accrued under the chit fund - scheme could be identified by following several methods of accounting including Completed Contract Method or Deferred Revenue Expenditure Method - Completed Contract Method ": leads to objective assessment of income - No finding recorded by the Courts below to the effect that the Completed Contract Method distorts the profits/income - Even
Sign in free to read it
- The full judgment, page by page, as published in the Supreme Court Reports
- The ratio: what the Court held, verbatim, with the page it sits on
- Every bench that relied on it, and every bench that argued against it
- Search every reported judgment, by party, citation or question
- Download the PDF, copy pinpoint citations ready for a filing
An email address, no password.