Accumulated income compliance review required annually to ensure proper investment and reporting by departmental officers. The Board mandates an annual review of compliance with investment requirements for income of charitable and religious trusts accumulated under the exemption provision. Reviews like the earlier instruction of 27.9.73 must be carried out each year, with the review for financial year 1973-74 reported by the notified date and reviews for subsequent years communicated to the Board by the first July following the financial year, using the prescribed proforma.
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.
Accumulated income compliance review required annually to ensure proper investment and reporting by departmental officers.
The Board mandates an annual review of compliance with investment requirements for income of charitable and religious trusts accumulated under the exemption provision. Reviews like the earlier instruction of 27.9.73 must be carried out each year, with the review for financial year 1973-74 reported by the notified date and reviews for subsequent years communicated to the Board by the first July following the financial year, using the prescribed proforma.
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