Circular No. 69-Income Tax Attention is invited to the provisions contained in clause (xx) of sub-section (1) of section 5. Clause (xx) exempts from wealth-tax the value of any equity shares held by the assessees in any company of the type referred to in clause (d) of section 45 where such shares form part of the initial issue of equity share capital made by the company after March 31, 1964
Circular No. 68-Income Tax The Board are advised that a mistake arising as a result of a subsequent interpretation of law by the Supreme Court would constitute “a mistake apparent from the records” and rectificatory action under section 35/154 of the 1922 Act/the 1961 Act would be in order. It has, therefore, been decided that where an assessee moves an application under section 154
Thiruvali Sri Lakshmi Narasimha Perumal Sannadhi—P. O. Thiruvali, Taluk Sirkali, District Tanjore
Notification: S.O.181 Lokmanya Tilak Hospital Silver Jubilee Research Foundation, Bombay has been approved by the Indian Council of Medical Research, the prescribed authority , for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 :
