NEW RECOGNIZED ASSOCITION FOR THE PURPOSE OF SECTION 43(5), CLAUSE (iii) OF EXPLANATION 2 TO CLAUSE (e) OF PROVISO, OF THE INCOME-TAX ACT, 1961 - 90/2013 - Income Tax Act, 1961
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Recognition of association under Income tax law grants tax treatment contingent on regulatory approval and compliance conditions. Notification recognises a commodity derivatives exchange as a recognised association for the relevant Income tax provision, effective from Gazette publication, contingent on its regulatory approval. The Central Government may withdraw recognition upon violation of conditions in the applicable rule, and the notification remains in force only while the exchange's regulatory approval subsists or until rescission under the rule.
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.
Recognition of association under Income tax law grants tax treatment contingent on regulatory approval and compliance conditions.
Notification recognises a commodity derivatives exchange as a recognised association for the relevant Income tax provision, effective from Gazette publication, contingent on its regulatory approval. The Central Government may withdraw recognition upon violation of conditions in the applicable rule, and the notification remains in force only while the exchange's regulatory approval subsists or until rescission under the rule.
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