Amendment to income tax proviso expands corpus assets and voluntary contributions treatment for charitable institutions. The amendment inserts a new proviso clause treating specified assets referred to in sub-clauses of the proviso to clause (23C) of section 10, accretions to shares forming part of that corpus, and voluntary contributions referred to in the same proviso as falling within the proviso to clause (d) of sub-section (1) of section 13, thereby expanding the statutory description of corpus assets and voluntary contributions for proviso treatment.
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Provisions expressly mentioned in the judgment/order text.
Amendment to income tax proviso expands corpus assets and voluntary contributions treatment for charitable institutions.
The amendment inserts a new proviso clause treating specified assets referred to in sub-clauses of the proviso to clause (23C) of section 10, accretions to shares forming part of that corpus, and voluntary contributions referred to in the same proviso as falling within the proviso to clause (d) of sub-section (1) of section 13, thereby expanding the statutory description of corpus assets and voluntary contributions for proviso treatment.
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