Supreme Court of India
Seshasayee Paper & Boards Limited v. Deputy Commissioner of Income Tax
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
c Income Tax Act, 1961- s. 32- Unabsorbed Depreciation - Whether the unabsorbed depreciation should be allowed before the allowance of the unabsorbed investment allowance in computing income of the assessee for the Assessment Year 1991-1992, when assessee had not claimed the o unabsorbed 'depreciation in its income-tax return though it had claimed depreciation for the current year- Held: By legal fiction unab$orbed depreciation becomes depr:eciation of the year in question and gets added to the depreciation of the current y.ear - Once the unabsorbed carried forward depreciation .becomes part
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