Charitable exemption under section 10(23C)(iv) recognised for a trust, subject to income application, investment and business accounting conditions. Charitable exemption under section 10(23C)(iv) notifies The Divine Light Trust for the Blind, Bangalore for assessment years 1990-91 to 1992-93, subject to conditions: income must be applied or accumulated solely for its objects; investments and deposits must conform to forms permitted by sub-section (5) of section 11 except for voluntary contributions retained as tangible assets; and business income qualifies only if incidental to objectives with separate books maintained.
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) recognised for a trust, subject to income application, investment and business accounting conditions.
Charitable exemption under section 10(23C)(iv) notifies The Divine Light Trust for the Blind, Bangalore for assessment years 1990-91 to 1992-93, subject to conditions: income must be applied or accumulated solely for its objects; investments and deposits must conform to forms permitted by sub-section (5) of section 11 except for voluntary contributions retained as tangible assets; and business income qualifies only if incidental to objectives with separate books maintained.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
