Supreme Court of India
Principal Commissioner of Income Tax (central)-i v. Nra Iron & Steel Pvt. 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.
From the headnote
Income Tax Act, 1961 – s.68 – Cash credits – Money received through Share Capital/Premium from various companies – Assessing Officer ( .O.) issued show cause notice to respondent-assessee to establish the genuineness of the transaction – Assessee inter alia submitted that the entire Share Capital was received through normal banking channels by account payee cheques/demand drafts, and produced documents such as income tax return acknowledgments to establish the identity and genuineness of the transaction – .O. issued summons to the representatives of the investor companies – None appeared on…
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