Approval as long term industrial finance corporation recognized for tax treatment, subject to statutory compliance. The Central Government approved M/s Meghalaya Industrial Development Corporation Limited as a corporation providing long term finance for industrial development for purposes of section 36(1)(viii) of the Income tax Act, recognising its status for the specified assessment years. The approval is subject to the condition that the company will conform to and comply with the provisions of section 36(1)(viii) of the Act.
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Provisions expressly mentioned in the judgment/order text.
Approval as long term industrial finance corporation recognized for tax treatment, subject to statutory compliance.
The Central Government approved M/s Meghalaya Industrial Development Corporation Limited as a corporation providing long term finance for industrial development for purposes of section 36(1)(viii) of the Income tax Act, recognising its status for the specified assessment years. The approval is subject to the condition that the company will conform to and comply with the provisions of section 36(1)(viii) of the Act.
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