Supreme Court of India
National Cooperative Development Corporation v. Assistant Commissioner of Income Tax
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
We hold that a vital judicial distinction exists between the general genus of "Business Income" and the specific species of "profits derived from the business of providing long-term finance." Viewed through this lens, none of the disputed receipts satisfy the strict statutory definition.
Judgment, page 21
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