Charitable trust income: amended investment and holding restrictions affect exemption eligibility for trusts and institutions. Amendment to section 13 conditions exemption of income of charitable or religious trusts and institutions on permitted modes of investment and on non-retention of shares in non-government companies; it creates transitional exceptions protecting certain corpus assets and pre-acquired debentures and limits application to business profits only where separate books are maintained, while also deleting specified sub-sections and adjusting cross-references.
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.
Charitable trust income: amended investment and holding restrictions affect exemption eligibility for trusts and institutions.
Amendment to section 13 conditions exemption of income of charitable or religious trusts and institutions on permitted modes of investment and on non-retention of shares in non-government companies; it creates transitional exceptions protecting certain corpus assets and pre-acquired debentures and limits application to business profits only where separate books are maintained, while also deleting specified sub-sections and adjusting cross-references.
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