The Food Corporations Act, 1964
Section 42. Provision relating to income-tax, super-tax, etc.
For the purposes of the Income-tax Act, 1961 (43 of 1961), or any other enactment for the time being in force relating to income-tax, super-tax or any other tax on income, profits or gains, a Food Corporation shall be deemed to be a company within the meaning of the Income-tax Act, 1961, and shall be liable to tax accordingly on its income, profits and gains.
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