Fund manager recognition: SEBI-approved AMCs treated as fund managers, qualifying for specified income-tax benefits under the Act. An AMC approved under the SEBI (Mutual Funds) Regulations, 1996 is to be treated as a Fund Manager for the purposes of Section 9A(4)(b) of the Income-tax Act, as SEBI has confirmed that AMCs engage in fund management of mutual funds and thereby fall within the substance of the term; the SEBI regulations have been included among the 'specified regulations' by prior notification to align regulatory approval with the Act's definition.
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.
Fund manager recognition: SEBI-approved AMCs treated as fund managers, qualifying for specified income-tax benefits under the Act.
An AMC approved under the SEBI (Mutual Funds) Regulations, 1996 is to be treated as a Fund Manager for the purposes of Section 9A(4)(b) of the Income-tax Act, as SEBI has confirmed that AMCs engage in fund management of mutual funds and thereby fall within the substance of the term; the SEBI regulations have been included among the "specified regulations" by prior notification to align regulatory approval with the Act's definition.
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