Notification of exempt pool accounts lists designated pool accounts for tax recognition under income tax law. The Central Government, under the income tax exemption provision in clause (23C) of section 10, notifies four accounts of the Oil Co ordination Committee on Pool Accounts for the specified assessment year: Freight Surcharge Pool Account No. 1, C and F Adjustment Account, Product Price Adjustment Account, and Crude Oil Price Equalisation Account, thereby identifying them as the pooled funds to be recognised under that exemption sub clause.
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.
Notification of exempt pool accounts lists designated pool accounts for tax recognition under income tax law.
The Central Government, under the income tax exemption provision in clause (23C) of section 10, notifies four accounts of the Oil Co ordination Committee on Pool Accounts for the specified assessment year: Freight Surcharge Pool Account No. 1, C and F Adjustment Account, Product Price Adjustment Account, and Crude Oil Price Equalisation Account, thereby identifying them as the pooled funds to be recognised under that exemption sub clause.
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