As Per section 2(26) of Income Tax Act 1961 “Indian company” Means:
“Indian company” means a company formed and registered under the Companies Act, 1956 (1 of 1956), and includes—
(i) A company formed and registered under any law relating to companies formerly in force in any part of India other than the State of Jammu and Kashmir and the Union territories specified in sub-clause (iii) of this clause
(i)(a) A corporation established by or under a Central, State or Provincial Act
(i)(b) Any institution, association or body which is declared by the Board to be a company under clause (17)
(ii) In the case of the State of Jammu and Kashmir, a company formed and registered under any law for the time being in force in that State
(ii) In the case of any of the Union territories of Dadra and Nagar Haveli, Goa, Daman and Diu, and Pondicherry, a company formed and registered under any law for the time being in force in that Union territory
Provided that the registered or, as the case may be, principal office of the company, corporation, institution, association or body in all cases is in India
CASE LAWS RELATED TO SECTION 2(26)
S. 2(17), (26), (31), 43B, 115J, 115JB of IT Act, 1961, S. 210 Sch. IV of Companies Act, 1956—Business expenditure—Section 43B(a) deals with amounts payable to the sovereign qua sovereign, not amounts payable to the sovereign qua principal. Therefore, Section 43 cannot be invoked in the case of the Electricity Board with regard to electricity duty collected by it pursuant to the obligation under section 5 of the Kerala Electricity Duty Act, 1963—Kerala State Electricity Board vs. Dy. CIT (2010) 329 ITR 91 (Ker)
Reference: – As Per Section 2(26) Of the Income Tax Act 1961