Income-tax exemption extended for Unit Trust undertaking, providing retrospective continuation of tax-exempt status for transfers under the repeal Act. The provision amends section 13(1) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 to extend the period during which the Administrator's income and receipts from the specified undertaking are exempt from income-tax and other taxes, and declares that the substitution takes effect retrospectively from the commencement of the extended period.
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Provisions expressly mentioned in the judgment/order text.
Income-tax exemption extended for Unit Trust undertaking, providing retrospective continuation of tax-exempt status for transfers under the repeal Act.
The provision amends section 13(1) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 to extend the period during which the Administrator's income and receipts from the specified undertaking are exempt from income-tax and other taxes, and declares that the substitution takes effect retrospectively from the commencement of the extended period.
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