When Sec 370 of the COs. Act was applicable, one Exemption NOTIFICATION NO.GSR 309, DATED 20-2-1978. issued u/s 620 of the Cos Act, provided that Sec 370 was not applicable to GOVT. COS under circumstances mentioned therein.
Now, new Sec. 372A has replaced Sec. 370. What is the status of / applicability for GOVT. COs w.r.t. Sec. 370.
Will any knowledgeable person enlighten me on this ?
CAclubindia
