Supreme Court of India
Mysore Kirloskar Limited v. Workers of the Mysore Kirloskar Limited
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
Held, that in consonance with the decision in the Associated Companies Ltd’s case the income-tax deduction must be calculated on the amount which represents the balance after deducting the full statutory depreciation allowed from the gross profit. Held, further that the rate allowed for return on working capital is to 2 to 4% which is at the discretion of the Tribunal and the Supreme Court usually will not interfere with the discretion exercised by the Tribunal in a particular case.
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