793/CBDT. - Income Tax - 793/CBDT

INSTRUCTION NO. 793/CBDT Dated : November 19, 1974 Section(s) Referred: 80J Statute: Income - Tax Act, 1961 Public Accounts committee have desired to know the number of industrial undertakings which were granted relief under section 80j during the financial year 1971-72 and falling in the small scale sector. the PAC have themselves in their 115th Report referred on page 160 to the studies undertaken by the Reserve Bank of India and the D.I (R SP) classifying companies whose profits exceeds Rs.5 lakhs or paid up capital and reserves exceed Rs.20 lakhs as large companies and all other companies as small companies. This criterion may be taken to be the basis for furnishing the report in regard to the companies belonging to the small scale sector. The information called for may be sent so as to reach the Board by the 16th December, 1974.