Supreme Court of India
Union of India & Ors. v. M/s. Margadarshi Chit Funds (p) Ltd. Etc.
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.
What the Court ordered
We are of the view that activity of managing chit fund does not amount to management of any type of fund.
Judgment, page 33
Authorities it was built on
- 2014 Commissioner of Income Tax (central)-1, New Delhi v. Vatika Township Private Limited
- 1977 Dattatraya Govind Mahajan & Ors. Etc. v. State of Maharashtra & Anr.
- 2009 Union of India & Ors. v. M/s Martin Lottery Agencies Ltd.
- 1966 Commissioner of Income-tax, Patiala & Ors. v. M/s. Shahzada Nand & Sons & Ors.
- 1997 People's Union for Civil Liberties v. Un10n of India and Anr.
- 1993 Shriram Chits and Investment (p) Ltd. v. Union of India and Ors.
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