Section 10(23G) of Income Tax Act: Declaratory Provision with Retrospective Effect on Tax Exemptions for Certain Entities.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Exemption u/s. 10(23G) - Explanation 2 to section 10(23G), as introduced by the Finance Act, 1999 is declaratory and has to be construed as retrospective as it is retroactive in nature.... - AT....