interpretation of section 10(10A)(i) of I.T. Act

Parveen Kr. Aggarwal (Querist) 26 November 2009 This query is : Resolved
Whether it is necessary that a corporation must be established by a special Act for being covered under section 10(10A)(i) of the Income Tax Act under the "corporation established by a Central, State or provincial Act" or even if there is no special Act but a corporation incorporated under the Companies Act being control and managed absolutely by state government, is also covered under the aforesaid provision?

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A V Vishal (Expert) 26 November 2009
Yes, a state government corporation incorporated under the Companies Act is also covered under the definition of corporation under Income Tax Act for the purpose of S 10(10A).

Parveen Kr. Aggarwal (Querist) 28 November 2009
is there any Judgment of the Supreme Court or any of the High Courts on this point

Parveen Kr. Aggarwal (Querist) 28 November 2009
Is detailed discussion on this point specifying the nature of corporations covered under and the corporations excluded from the purview of this provision, available anywhere? If so, please guide.

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