Charitable exemption under section 10(23C)(iv): status granted subject to exclusive income application, permitted investments and incidental business rules. Notification under section 10(23C)(iv) notifies Bengal Social Service League for the specified tax concession for assessment years 1989-90 to 1991-92, conditional on applying or accumulating income wholly and exclusively to its objects, restricting investments to modes specified in subsection (5) of section 11 (excluding voluntary contributions held as jewellery, furniture, etc.), and excluding business income unless the business is incidental and maintains separate books of account.
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 exemption under section 10(23C)(iv): status granted subject to exclusive income application, permitted investments and incidental business rules.
Notification under section 10(23C)(iv) notifies Bengal Social Service League for the specified tax concession for assessment years 1989-90 to 1991-92, conditional on applying or accumulating income wholly and exclusively to its objects, restricting investments to modes specified in subsection (5) of section 11 (excluding voluntary contributions held as jewellery, furniture, etc.), and excluding business income unless the business is incidental and maintains separate books of account.
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