Tax exemption for Credit Guarantee Corporation applies to specified assessment years, relieving income-tax and surtax liability. Credit Guarantee Corporation of India Limited is exempted from liability to pay income-tax under the Income-tax Act and surtax under the Companies (Profits) Surtax Act for the previous year relevant to the assessment year commencing 1 April 1972 and for the seven previous years following that previous year, notwithstanding other provisions of those Acts.
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.
Tax exemption for Credit Guarantee Corporation applies to specified assessment years, relieving income-tax and surtax liability.
Credit Guarantee Corporation of India Limited is exempted from liability to pay income-tax under the Income-tax Act and surtax under the Companies (Profits) Surtax Act for the previous year relevant to the assessment year commencing 1 April 1972 and for the seven previous years following that previous year, notwithstanding other provisions of those Acts.
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