Exemption for Government financed entities and business trust income clarified, including SPE interest exclusion and unit holder distribution rules. Amendments to section 10 treat specified universities, educational institutions, hospitals and institutions as substantially Government financed where government grants exceed a prescribed percentage of total receipts, preserve income received on behalf of notified or approved funds/trusts from exclusion under other parts of section 10, require application/accumulation computations without deductions for certain asset acquisitions, exclude interest of a business trust from its total income when received from a defined special purpose vehicle, exclude certain distributed income received by unit holders, and extend clause (38) exemptions to units of business trusts with specified transfer exclusions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption for Government financed entities and business trust income clarified, including SPE interest exclusion and unit holder distribution rules.
Amendments to section 10 treat specified universities, educational institutions, hospitals and institutions as substantially Government financed where government grants exceed a prescribed percentage of total receipts, preserve income received on behalf of notified or approved funds/trusts from exclusion under other parts of section 10, require application/accumulation computations without deductions for certain asset acquisitions, exclude interest of a business trust from its total income when received from a defined special purpose vehicle, exclude certain distributed income received by unit holders, and extend clause (38) exemptions to units of business trusts with specified transfer exclusions.
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