Exemption from Chapter VII: commodities transactions on IFSC recognised stock exchanges paid in foreign currency are outside Chapter VII. Chapter VII does not apply to taxable commodities transactions entered into on a recognised stock exchange located in an International Financial Services Centre where consideration is paid or payable in foreign currency; the term International Financial Services Centre is as defined in the Special Economic Zones Act, 2005.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption from Chapter VII: commodities transactions on IFSC recognised stock exchanges paid in foreign currency are outside Chapter VII.
Chapter VII does not apply to taxable commodities transactions entered into on a recognised stock exchange located in an International Financial Services Centre where consideration is paid or payable in foreign currency; the term International Financial Services Centre is as defined in the Special Economic Zones Act, 2005.
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