Section 36(1)(viii) approval: conditional tax recognition for housing finance deductions requiring audited filings and reserve maintenance. Approval is granted to SREI Home Finance Ltd., Calcutta, for recognition under the Income-tax Act provision permitting housing finance deductions for the assessment years noted, subject to conditions that the company's main object is long-term residential housing finance; annual submission of audited accounts and a statement of deduction before the return filing due date; creation and maintenance of the required special reserve; and fulfillment of all other statutory conditions.
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.
Section 36(1)(viii) approval: conditional tax recognition for housing finance deductions requiring audited filings and reserve maintenance.
Approval is granted to SREI Home Finance Ltd., Calcutta, for recognition under the Income-tax Act provision permitting housing finance deductions for the assessment years noted, subject to conditions that the company's main object is long-term residential housing finance; annual submission of audited accounts and a statement of deduction before the return filing due date; creation and maintenance of the required special reserve; and fulfillment of all other statutory conditions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
