https://www.taxtmi.com/highlights?id=96929 After amendment to Explanation 1(c), eligibility as a venture capital undertaking must be determined strictly with reference to the SEBI Venture Capital Fund Regulations, 1996; on that regulatory and factual matrix the entity in question meets the regulatory description and is not within the negative list, so statutory eligibility is satisfied. Denial of exemption solely because commercial hospital operations had not commenced was rejected as inconsistent with the legislative aim to promote capital in sectors with inherent gestation. The income from the fund's qualifying investments therefore qualified for the statutory tax exemption. en-us Mon, 16 Feb 2026 10:07:49 +0530 Mon, 16 Feb 2026 10:07:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96929 After amendment to Explanation 1(c), eligibility as a venture capital undertaking must be determined strictly with reference to the SEBI Venture Capital Fund Regulations, 1996; on that regulatory and factual matrix the entity in question meets the regulatory description and is not within the negative list, so statutory eligibility is satisfied. Denial of exemption solely because commercial hospital operations had not commenced was rejected as inconsistent with the legislative aim to promote capital in sectors with inherent gestation. The income from the fund's qualifying investments therefore qualified for the statutory tax exemption. Highlights Income Tax Mon, 16 Feb 2026 10:07:49 +0530 https://www.taxtmi.com/highlights?id=96929