Notification under Explanation to subsection (1H) of section 206C of the Income tax Act, 1961
S.O. 3681(E).—In exercise of the powers conferred by clause (b) of Explanation to sub-section (1H) of section 206C of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby specifies that, Air India Limited (PAN: AACCN6194P) shall not be considered as ‘seller’ for the purposes of sub-section (1H) of section 206C of the said Act in relation to transfer of goods by it to Air India Assets Holding Limited (PAN: AAQCA4703M) under a plan approved by the Central Government.
- The notification shall be deemed to have come into force with effect from the 1st day of April, 2021.
Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.
Also Read: Notification under Explanation to subsection (1) of section 194Q
Read More on CBDT, Income-tax
