Specified IFCI bonds: transferee must notify the issuer within the prescribed period to avail proviso benefit. The Central Government, under clause (iib) of the proviso to section 193 of the Income-tax Act, 1961, specifies by notification particular series of bonds issued by the Industrial Finance Corporation of India as falling within that proviso. The notification lists the designated bond series and provides that the proviso's benefit on transfer by endorsement or delivery is admissible only if the transferee informs the Industrial Finance Corporation of India by registered post within sixty days of the transfer.
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.
Specified IFCI bonds: transferee must notify the issuer within the prescribed period to avail proviso benefit.
The Central Government, under clause (iib) of the proviso to section 193 of the Income-tax Act, 1961, specifies by notification particular series of bonds issued by the Industrial Finance Corporation of India as falling within that proviso. The notification lists the designated bond series and provides that the proviso's benefit on transfer by endorsement or delivery is admissible only if the transferee informs the Industrial Finance Corporation of India by registered post within sixty days of the transfer.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
