Tax exemption for foreign company selling codeine phosphate permits receipt-only income under approved memorandum of understanding. The Central Government notifies M/s Temad, Iran, Codeine Phosphate, and the approved Memorandum of Understanding between GOAF and M/s Temad as the basis for a tax exemption, limiting the foreign company to receipt of income in India solely on account of sales under that approved agreement, effective from 1 April 2014.