Supreme Court of India
M/s. Yasha Overseas v. Commissioner of Sales Tax & Ors.
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
Import-Export: Replenishment Licence - Sale of - Exigibility to sales c tax - Held: REP Licence is exigible to sales tax - Innate value of REP licence and its free transferability made it into a market commodity - Constitution Bench decision in Sunrise Associates's case does not alter the position in regard to levy of tax on sale of REP licence - On the said issue \hkas Sales · Corporation's case is a good law )' Duty Entitlement Passbook Scheme (Of.PB) - Sale of DEPB - Exigibility to sales tax - Held: DEPB has its own intrinsic value that makes it a market commodity- Thus, DEPB credit is
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