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    <description>Commodities transaction tax is levied on transactions defined as taxable commodities transactions-purchase or sale of option in goods, option in commodity derivative, or any other commodity derivative traded in recognised associations-while &quot;Assessing Officer&quot; and &quot;Appellate Tribunal&quot; are specified by reference to authorised Income tax functionaries and the tribunal under the Income tax Act; undefined words take their meanings from the Forward Contracts (Regulation) Act, the Income tax Act, or related rules, and &quot;prescribed&quot; matters are set by rules under the Chapter.</description>
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