Exemption for National Defence Gold Bonds declared as annual payment under amended section ten clause fifteen. An amendment adds a new sub-clause treating annual payments on National Defence Gold Bonds as expressly exempt from income tax, thereby expanding the statutory catalogue of exempt receipts and establishing a clear textual basis within the Income-tax Act for non-taxation of those annual bond payments.
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Provisions expressly mentioned in the judgment/order text.
Exemption for National Defence Gold Bonds declared as annual payment under amended section ten clause fifteen.
An amendment adds a new sub-clause treating annual payments on National Defence Gold Bonds as expressly exempt from income tax, thereby expanding the statutory catalogue of exempt receipts and establishing a clear textual basis within the Income-tax Act for non-taxation of those annual bond payments.
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