Supreme Court of India
Commissioner of Income Tax, Madras v. G.R. Karthikeyan, Coimbatore
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: Sections 2(24)and 10(3 )-For Assessment-What constitutes Income-Prize Money-From All India Motor Car Rally-Whether constitutes Income. The assessee participated in an All India Highway Motor Car Rally and on being declared a winner, received an amount of Rs. 22,000 as prize mone~·. The Income-tax officer included the prize money in his income for the relevant assessment year relying upon the definition of'income' in clause (24) of Section 2 of Income Tax Act.
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