Charitable trust exemption notified, subject to exclusive application of income and specified investment and incidental business conditions. Notification confers tax exemption on Jaffer Suleman Musafirkhana Trust for specified assessment years under clause (23C)(v) of section 10, conditional on applying or accumulating income exclusively for its objects, restricting investments to forms permitted for charitable application (except certain voluntary contributions held as property), and excluding business income unless incidental to objectives with separate books maintained.
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Provisions expressly mentioned in the judgment/order text.
Charitable trust exemption notified, subject to exclusive application of income and specified investment and incidental business conditions.
Notification confers tax exemption on Jaffer Suleman Musafirkhana Trust for specified assessment years under clause (23C)(v) of section 10, conditional on applying or accumulating income exclusively for its objects, restricting investments to forms permitted for charitable application (except certain voluntary contributions held as property), and excluding business income unless incidental to objectives with separate books maintained.
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