Supreme Court of India
Commissioner of Income-tax, Ernakulam (kerala) v. The Official Liquidator, Palai Central Bank Ltd. (in Liquidation)
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
Super Profita Tax Act, 1963 (Act XIV of 1961), ss.2 (5), 2 (9) and 4 read with second Schedule to the .ct-Company in liquidation-Whether chargeable to super profits tax. Capital, reserve and accumulated profits-Distinction between-Whether disappears on winding up of company. The assessee-company went into liquidation on August 8, 1960. The Income-tax Officer, while determining the taxable income of the assessee-com pany at Rs.…
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