Section(s) Referred: s. 36(1)(viii)
Statute: INCOME TAX
Date of Issue: 14/12/1999
It is notified for general information that M/s Industrial Development Bank of India, Mumbai, has been approved by the Central Government as a Corporation engaged for providing long-term finance for industrial development in the country for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000.
2. The approval is subject to the condition that the company will conform to and comply with the provisions of s. 36(1)(viii) of the Income-tax Act, 1961.
[F. No. 204/5/98/ITA-II]