Section 10(23C) approval conditions educational-only use, restricted investments, separate books for incidental business, and dissolution rules. Approval under section 10(23C)(vi) grants the institution tax-exempt recognition from assessment year 2011-12 onwards subject to conditions: income must be applied exclusively to educational purposes; investments limited to legally permitted forms; business income excluded unless incidental with separate books; regular filing of returns; surplus assets on dissolution to transfer to a similar charitable organisation; anonymous donations excluded; and the notification remains in force until withdrawn.
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.
Section 10(23C) approval conditions educational-only use, restricted investments, separate books for incidental business, and dissolution rules.
Approval under section 10(23C)(vi) grants the institution tax-exempt recognition from assessment year 2011-12 onwards subject to conditions: income must be applied exclusively to educational purposes; investments limited to legally permitted forms; business income excluded unless incidental with separate books; regular filing of returns; surplus assets on dissolution to transfer to a similar charitable organisation; anonymous donations excluded; and the notification remains in force until withdrawn.
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