Section 32(2) in The Unit Trust Of India Act, 1963
(2)Notwithstanding anything contained in section 193 or section 194 of the Income-tax Act, 1961 (43 of 1961),--(a)no deduction of income-tax or super-tax shall be made on any interest or dividend payable to the Trust in respect of any securities or shares owned by it or in which it has full beneficial interest;[* * *] [Clauses (b) and (c) and proviso omitted by the Finance Act 22 of 1995. Section 90][* * *] [Sub-section (3) omitted by Finance Act 22 of 1995, Section 90]
