Rule 128: an arrangement, where the aggregate tax benefit in the relevant tax year, to all the parties to the

Bare law

Rule 128 - an arrangement, where the aggregate tax benefit in the relevant tax year, to all the parties to the arrangement does not

128. (1) The provisions of Chapter XI shall not apply to— (a) an arrangement, where the aggregate tax benefit in the relevant tax year, to all the parties to the arrangement does not exceed a sum of three crore rupees; (b) a Foreign Institutional Investor,— (i) who is an assessee under the Act; (ii) who has not taken benefit of an agreement referred to in section 159; and (iii) who has invested in listed securities, or unlisted securities, with the prior permission of the competent authority, in

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