Supreme Court of India
Arvind Mills Ltd. v. Commissioner of Income Tax, Gujarat
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 : Section 37. Business expenditure-Capital or Revenue expenditure-Test to deter- mine-Expenditure must have direct nexus with day to day running of busi- c .... ness-Question of voluntary or involuntary payment is not relevant -Contribution of bemennent charges made by the assessee towards the cost of Town Planning Scheme under the Bombay Town Planning Act, 1954-Ex- ....), penditure held capital in nature-Not deductible from the income of the assessee.
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