Act not to apply in certain cases

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e society;] 6[(h) any social club;] 7[(i) any political party. Explanation.--For the purposes of clause (i), "political party" shall have the meaning assigned to it in the Explanation to section 13A of the Income-tax Act;] 8[(j) a Mutual Fund specified under clause (23D) of section 10 of the Income-tax Act.] 9[(k) the Reserve Bank of India incorporated under the Reserve Bank of India Act....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... make to the company a special advance for the purpose or has guaranteed or agreed to guarantee the payment of moneys borrowed by the company from any institution outside India; (d) any company established with the object of carrying on an industrial undertaking in India in any case where the company is not formed by the splitting up, or the reconstruction, of a business already in existence or ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....or in mining or in the generation or distribution of electricity or any other form of power; (e) any company solely engaged in the business of transporting goods or passengers by ships;' 4. For text of section 25 of the Companies Act, 1956, see Appendix. 5. Inserted vide Finance Act, 1972, w.r.e.f. 1-4-1957. 6. Substituted vide Finance Act, 1992, w.e.f. 1-4-1993. Before substitution, clause (....