Approval under section 36(1)(viii) requires long term housing finance purpose, audited filings and maintenance of special reserve. Central Government approval granted to M/s Residency Housing Finance Limited under section 36(1)(viii) of the Income tax Act for assessment year 1999 2000, subject to: carrying on main business of providing long term finance for residential houses; annual submission, by the due date under section 139(1), of audited profit and loss account and balance sheet with a statement of deduction claimed; creation and maintenance of the required special reserve; and fulfilment of all other conditions in section 36(1)(viii).
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Provisions expressly mentioned in the judgment/order text.
Approval under section 36(1)(viii) requires long term housing finance purpose, audited filings and maintenance of special reserve.
Central Government approval granted to M/s Residency Housing Finance Limited under section 36(1)(viii) of the Income tax Act for assessment year 1999 2000, subject to: carrying on main business of providing long term finance for residential houses; annual submission, by the due date under section 139(1), of audited profit and loss account and balance sheet with a statement of deduction claimed; creation and maintenance of the required special reserve; and fulfilment of all other conditions in section 36(1)(viii).
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