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U/s 10(23FE) of Income Tax Act 1961 - Central Government specifies the sovereign wealth fund namely, the MIC Redwood 1 RSC Limited, Abu Dhabi, United Arab Emirates - 89/2020 - Income Tax

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..... r before the 31st day of March, 2024 (hereinafter referred to as “said investments”) subject to the fulfilment of the following conditions, namely:- (i) the assessee shall file return of income, for all the relevant previous years falling within the period beginning from the date in which the said investment has been made and ending on the date on which such investment is liquidated, on or before the due date specified for furnishing the return of income under sub-section (1) of section 139 of the Act; (ii) the assessee shall get its books of account audited for the previous years referred to in clause (i) by any accountant specified in the Explanation below sub-section (2) of section 288 of the Act and furnish the Audit Report .....

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U/s 10(23FE) of Income Tax Act 1961 - Central Government specifies the sovereign wealth fund namely, the MIC Redwood 1 RSC Limited, Abu Dhabi, United Arab Emirates - 89/2020 - Income Tax

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..... indirectly from any person other than the Government of the Abu Dhabi; (b) The assessee shall only invest the surplus fund of the Government of Abu Dhabi and that Government shall not raise any loan, debt etc. directly or indirectly, from the market or any entity to make the said investment; (ix) the asset of the assessee shall vest in the Government of Abu Dhabi upon dissolution; (x) the assessee does not and shall not undertake any commercial activity whether within or outside India other than the said investment or investment of similar nature; (xi) the assessee shall have monitoring mechanism to protect the said investment with investee but shall not manage day to day operations of the investee or appoint executive directors in the inve .....

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U/s 10(23FE) of Income Tax Act 1961 - Central Government specifies the sovereign wealth fund namely, the MIC Redwood 1 RSC Limited, Abu Dhabi, United Arab Emirates - 89/2020 - Income Tax

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..... 3FE) of section 10 of the Income-tax Act, 1961 and those provided in the said notification specifying the assessee being the Sovereign Wealth Fund as specified person for the purposes of claiming exemption under the said clause (23FE). 2.1 *The conditions not complied with by the assessee are as under:- (a) …………………………….…………………………….……………………………… (b) …………………………….………………………& .....

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U/s 10(23FE) of Income Tax Act 1961 - Central Government specifies the sovereign wealth fund namely, the MIC Redwood 1 RSC Limited, Abu Dhabi, United Arab Emirates - 89/2020 - Income Tax

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