Specification of public sector bonds confirms two seven year secured redeemable bonds specified for wealth tax treatment. Specification under section 5(1)(xvie) designates particular public sector debentures as falling within the clause for wealth tax purposes. The Central Government, by notification dated 19 November 1986, specifies two instruments as eligible: a seven year secured redeemable non convertible bond issued by the Indian Petrochemicals Corporation Ltd., Baroda, and a seven year secured redeemable bond (13th Series) issued by the Rural Electrification Corporation Ltd., New Delhi.
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.
Specification of public sector bonds confirms two seven year secured redeemable bonds specified for wealth tax treatment.
Specification under section 5(1)(xvie) designates particular public sector debentures as falling within the clause for wealth tax purposes. The Central Government, by notification dated 19 November 1986, specifies two instruments as eligible: a seven year secured redeemable non convertible bond issued by the Indian Petrochemicals Corporation Ltd., Baroda, and a seven year secured redeemable bond (13th Series) issued by the Rural Electrification Corporation Ltd., New Delhi.
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