Exemption under section 230A: sub section (1) does not apply to government companies and statutory corporations. The Central Board of Direct Taxes, exercising powers under sub-section (3) of section 230A of the Income-tax Act, notifies that sub-section (1) of section 230A shall not apply to government companies as defined in company law and to corporations established by or under a Central, State or Provincial Act, thereby excluding those entities from the application of that subsection.
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Provisions expressly mentioned in the judgment/order text.
Exemption under section 230A: sub section (1) does not apply to government companies and statutory corporations.
The Central Board of Direct Taxes, exercising powers under sub-section (3) of section 230A of the Income-tax Act, notifies that sub-section (1) of section 230A shall not apply to government companies as defined in company law and to corporations established by or under a Central, State or Provincial Act, thereby excluding those entities from the application of that subsection.
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