Supreme Court of India

Oil & Natural Gas Corporation Limited v. Commissioner of Income Tax &anr.

Neutral citation

Reported as [2015] 9 S.C.R. 992

Bench Ranjan Gogoi and Pinaki Chandra Ghose JJ.

Decided 1 July 2015

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

Companies (Profits) Surtax Act, 1964-s. 24AA(2)(a) c and (2)(b) - Exemption Notification No. GSR 307( ) dated 31.3.1983 issued uls. 24AA - Whether the appellant- assessee covered within the purview of the Notification- Held: s. 24AA grants power to Central Government either to grant exemption to both categories of foreign companies enumerated in sub-section (2)(a) or (2)(b) or to any one of specified category - Exemption Notification has granted exemption only to the category of foreign companies enumerated in sub-section (2)(a) and has specifically omitted the category enumerated ins.

Authorities it was built on

1968 Hansraj Gordhandas v. H. H. Dave, Assistant Collector of Central Excise & Customs, Surat & Two Ors. cited by 20
2010 Commissioner of Central Excise, New Delhi v. M/s Hari Chand Shri Gopal & Other cited by 10
2009 Premanand R. Shenoy v. Custodian and Ors. cited by 10

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