Supreme Court of India
Commissioner of Income Tax, Delhi-1 v. M/s Container Corporation of India Ltd.
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.
What the Court ordered
In view of the aforesaid amendment, the Notifications issued by the CBDT with regard to treating the ICDs as infrastructure facility were applicable only upto the Assessment Year 2002-03.
Judgment, page 7
From the headnote
Income Tax Act, 1961 – s.80-IA – Deduction under s.80-IA on the profits earned from the Inland Container Depots – Held: The ICDs are Inland Ports and are subject to the provisions of s.80-IA – Deduction can be claimed for the income earned out of these Depots – Customs Act, 1962 – s.2(12), 7(1)(aa). Disposing of the appeals, the Court HELD: 1. The Inland Container Depots (ICDs) function for the benefit of exporters and importers located in industrial centers which are situated at distance from sea ports.
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