Section - 10(48A) (of Income Tax Act, 1961), Income-tax Act.
Section - 10(48A) (of Income Tax Act, 1961), Income-tax Act.
Incomes not included in total income.
Any income accruing or arising to a foreign company on account of storage of crude oil in a facility in India and sale of crude oil therefrom to any person resident in India:
Provided that—
(i) the storage and sale by the foreign company is pursuant to an agreement or an arrangement entered into by the Central Government or approved by the Central Government; and
(ii) having regard to the national interest, the foreign company and the agreement or arrangement are notified by the Central Government in this behalf;
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