Supreme Court of India
Balakrishnan v. Union of India & 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
Income Tax Act, 1961 - ss. 10(37) and 148 - Capital gains tax - Exemption ji-0111 - Agricultural land of landlord-appellant acquired under Land Acquisition Act - Compensation fixed by the award was not acceptable to the landlord - Hence, he entered into negotiation with the beneficiary of the acquisition to get the compensation commensurate with market rate and arrived at amicable settlement - After entering into agreement with the beneficiary, landlord executed sale-deed in favour of the beneficiary - Revenue initiated proceedings uls. 148 - Direction was issued to the Assessing Officer to
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