Notification No. 108/2021-Income Tax | Dated: 10th September 2021

Last updated: 20 September 2021

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This Income Tax notification, dated 10th September 2021, clarifies that Air India Limited will not be considered a 'seller' for the purposes of sub-section (1H) of section 206C of the Income-tax Act. This exemption applies specifically to the transfer of goods by Air India to Air India Assets Holding Limited, as part of a government-approved plan. The notification is effective retrospectively from 1st April 2021.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 10th September, 2021
INCOME-TAX

S.O. 3681(E).—In exercise of the powers conferred by clause (b) of Explanation to sub-section (1H) of section 206C of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby specifies that, Air India Limited (PAN: AACCN6194P) shall not be considered as ‘seller’ for the purposes of sub-section (1H) of section 206C of the said Act in relation to transfer of goods by it to Air India Assets Holding Limited (PAN: AAQCA4703M) under a plan approved by the Central Government.

2. The notification shall be deemed to have come into force with effect from the 1st day of April, 2021.

[Notification No. 108/2021/F. No. 370149/158/2021-TPL]
ANKIT JAIN, Under Secy. (Tax Policy and Legislation)

Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.

FAQ :

The notification specifies that Air India Limited will not be considered a 'seller' under sub-section (1H) of section 206C of the Income-tax Act for certain goods transfers.

Air India Limited is exempt from being considered a 'seller' in relation to the transfer of goods to Air India Assets Holding Limited.

The exemption applies to the transfer of goods by Air India Limited to Air India Assets Holding Limited under a plan approved by the Central Government.

The notification is deemed to have come into force with effect from 1st April 2021.

The relevant section is sub-section (1H) of section 206C of the Income-tax Act, 1961.