Section 32A(5)(c) in The Income Tax Act, 1961

[Cites 0, Cited by 5] [Section 32A(5)] [Section 32A] [Entire Act]

Union of India - Subsection

Section 32A(5)(c) in The Income Tax Act, 1961

(c)if at any time before the expiry of the ten years aforesaid, the assessee utilises the amount credited to the reserve account under sub-section (4) for distribution by way of dividends or profits or for remittance outside India as profits or for the creation of any assets outside India or for any other purpose which is not a purpose of the business of the undertaking, and the provisions of sub-section (4-A) of section 155 shall apply accordingly:

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Union of India - Subsection

Section 32A(5)(c) in The Income Tax Act, 1961