Offshore mutual fund designation recognizes specified Indbank fund under tax exemption provision, conferring status for income-tax purposes. Central Government designates Indbank Communications (Offshore) Fund as an offshore mutual fund for purposes of the Income-tax Act, based on its establishment by trust deed dated 6 September 1994 by Indbank Merchant Banking Services Limited and its approval by the Securities and Exchange Board of India.
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Provisions expressly mentioned in the judgment/order text.
Offshore mutual fund designation recognizes specified Indbank fund under tax exemption provision, conferring status for income-tax purposes.
Central Government designates Indbank Communications (Offshore) Fund as an offshore mutual fund for purposes of the Income-tax Act, based on its establishment by trust deed dated 6 September 1994 by Indbank Merchant Banking Services Limited and its approval by the Securities and Exchange Board of India.
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