Tax exemption under section 10(23D): BOB Mutual Fund set up by Bank of Baroda specified as public sector mutual fund. The Central Government, exercising powers under clause (23D) of section 10 of the Income-tax Act, 1961, specifies BOB Mutual Fund, set up by the Bank of Baroda as a corresponding new bank under the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, as a Mutual Fund of public sector banks by notification S.O.122(E) dated 24-2-1993.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23D): BOB Mutual Fund set up by Bank of Baroda specified as public sector mutual fund.
The Central Government, exercising powers under clause (23D) of section 10 of the Income-tax Act, 1961, specifies BOB Mutual Fund, set up by the Bank of Baroda as a corresponding new bank under the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, as a Mutual Fund of public sector banks by notification S.O.122(E) dated 24-2-1993.
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