Approval under section 36(1)(viii): corporation status for long term finance recognised, subject to compliance conditions. Approval is granted to M/s Industrial Development Bank of India, Mumbai, as a corporation engaged in providing long term finance for industrial development for the purposes of section 36(1)(viii) of the Income tax Act, 1961 for the specified assessment year, subject to the condition that the company will conform to and comply with the provisions of that income tax provision.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 36(1)(viii): corporation status for long term finance recognised, subject to compliance conditions.
Approval is granted to M/s Industrial Development Bank of India, Mumbai, as a corporation engaged in providing long term finance for industrial development for the purposes of section 36(1)(viii) of the Income tax Act, 1961 for the specified assessment year, subject to the condition that the company will conform to and comply with the provisions of that income tax provision.
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