Tax rule amendment adds POWERGRID Infrastructure Investment Trust units as a permitted form of investment under income-tax rules. Amendment to the Income-tax Rules inserts a clause in Rule 17C specifying that investment by way of acquiring units of POWERGRID Infrastructure Investment Trust is a permitted form of investment, effected by a CBDT notification under the board's rulemaking power and coming into force on publication in the Official Gazette.
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Provisions expressly mentioned in the judgment/order text.
Tax rule amendment adds POWERGRID Infrastructure Investment Trust units as a permitted form of investment under income-tax rules.
Amendment to the Income-tax Rules inserts a clause in Rule 17C specifying that investment by way of acquiring units of POWERGRID Infrastructure Investment Trust is a permitted form of investment, effected by a CBDT notification under the board's rulemaking power and coming into force on publication in the Official Gazette.
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