Interpretation of “relevant period” defined in Explanation (a) ‑ Date of applicability of the sub‑section to private companies

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..... fined in Explanation (a) ‑ Date of applicability of the sub ‑ section to private companies Several representations have been received from various quarters relating to the interpretation of and the date of the applicability of the provisions of section 43A(1A) to the private companies with reference to the Explanation given at the end of the said section. The matter has been e .....

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..... l become public companies on and from the expiry of a period of three months from the last date of the third financial year of the relevant period. 2. Companies, whose first or the second financial year, as the case may be, of the relevant period having an average annual turnover of Rs. 1 crore or above does not end prior to 31‑10‑1974, i.e., where either the first financial year o .....

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