Supreme Court of India
Malayala Manorama Co. Ltd. v. Commissioner of Income Tax, Trivandrum
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 - s.115J: Assessment Years 1988-89 and 1989-90 - Company consistently charging depreciation in its books of account at rates prescribed in the Income-tax Rules - Whether in respect of such a company, the Income Tax Officer has jurisdiction under s.115J of the Income Tax Act to rework net profits by substituting the rates prescribed in Schedule XIV of the Companies Act, 1956 - Held: The Assessing Officer does not have jurisdiction to go behind the net profit shown in the profit and loss account except to the extent provided in the Explanation to s. 115J - Companies Act,
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