TMI BlogThe Central Government approves various investments u/s 54AX X X X Extracts X X X X X X X X Extracts X X X X ..... following investments for the purposes of that section in respect of the assessment year commencing on and from the 1st day of April, 1965, and any subsequent assessment year, namely :-- 1. (1) Investment by purchase of-- (a) National Savings Certificates (First Issue), (b) National Savings Certificates (First Issue)--Bank Series, (c) 12-Year National Defence Certificates, (d) 10-Year Defence D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... conducting Government treasury business ; any treasury or sub-treasury in India ; or any Head Post Office or Departmental sub-Post Office, doing Savings Bank work. 2. Investment by subscription to any security of the Central Government or of any State Government. 3. Investment by subscription to an issue of ordinary shares by a public company formed and registered in India which is engaged ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate, the subscription list in respect of such issue has not been closed before that date ; (c) any of the shares forming part of such issue is not offered for subscription at a premium ; (d) any of the shares forming part of such issue is not issued by way of consideration for the transfer of goodwill in relation to an asset or business ; (e) any of the shares forming part of such issue i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an initial issue of capital, if-- (i) such company had declared, distributed or paid any dividend when it was a private company ; or (ii) such company has, when it was a private company, created in its books a goodwill of business or made any revaluation of its assets over the book value thereof ; or (iii) such issue is for an amount which is less than the paid-up equity capital of the c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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