INCOME TAX

Issue of clearance in F.37-I

INSTRUCTION NO. 1930/1995

 Dated: September 21, 1995

In the matter of issue of clearance in F.37-I, the Board have considered representations about applicability of the relevant provisions for transfers by or to the Government., semi-Government bodies, PSUs, Housing Boards etc. The Board have referred to C.B.Gautam's case where the Govt. have given the undertaking that the properties should not ordinarily be purchased under Chapter-XXC in respect of transactions by & with Govt., Semi Govt. organisations, PSUs, Universities etc. The Board have instructed that in such cases, the Appropriate Authority should expedite the issue of NOC preferably within 10 days from the date of filing of F.37-I.