Supreme Court of India
Administrator Trust of India v. B.M. Malani and Ors.
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-s. 226(3)-lnterpretation of-Assessee defaulter of payment of income tax-UT! holding units under the c Scheme on assessee 's behalf-Income Tax Department issuing notice to UT! raising demand on account of income tax penalty by assessee- UT! selling units below par without assessee ~<;consent and making part payment-High Court holding units to be redeemed at par- Correctness of-Held: UT! could not have tran4erred the amount, in absence of any right of option of repurchase of units having been exercised by assessee-s. 226(3)(vi) cannot be interpreted to mean that UT! was…
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