Supreme Court of India
The Commissioner of Income-tax, Bombay v. The Jalgaon Electricity Supply Co., Ltd.
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.
1 Supreme Court bench has cited this judgment.
What the Court ordered
In the result, the appeal fails, and will be dismissed with costs.
Judgment, page 8
From the headnote
Additional Income-tax-If could be levied on excess dividends, 'When there are pro.fits in the preceding years-Manner of calculation pf tax-Indian Finance Act, r949 and r950, Para. , of Part I of ·the First Schedule. After making all allowances and deductions, the income of the asscssee company was finally assessed for the years 1949.50 T 3 S. .R. SUPREME COURT REPORTS 881 and 1950-51 at Rs. 3.423 and Rs. 3,312 respectively.…
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