Tax exemption notification under section 10(23D) recognises Commonwealth Equity Fund as a public sector mutual fund. Central Government, under clause (23D) of section 10 of the Income-tax Act, specifies the Commonwealth Equity Fund Mutual Fund established by a corresponding new bank as a mutual fund of public sector banks for the purposes of that provision, formally classifying the fund within the statutory category applicable to mutual funds of public sector banks.
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.
Tax exemption notification under section 10(23D) recognises Commonwealth Equity Fund as a public sector mutual fund.
Central Government, under clause (23D) of section 10 of the Income-tax Act, specifies the Commonwealth Equity Fund Mutual Fund established by a corresponding new bank as a mutual fund of public sector banks for the purposes of that provision, formally classifying the fund within the statutory category applicable to mutual funds of public sector banks.
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