Tax exemption for notified charitable society limited by exclusive income application and prescribed investment and business conditions. Notification notifies Tagore Society for Rural Development, Calcutta under section 10(23C)(iv) for assessment years 1991 92 to 1993 94 subject to conditions: income must be applied or accumulated wholly and exclusively to the society's objects; investments or deposits of funds must be only in forms/modes specified in section 11(5) except for voluntary contributions kept as jewellery, furniture, etc.; and the notification does not apply to business income unless incidental to objectives and maintained in separate books.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption for notified charitable society limited by exclusive income application and prescribed investment and business conditions.
Notification notifies Tagore Society for Rural Development, Calcutta under section 10(23C)(iv) for assessment years 1991 92 to 1993 94 subject to conditions: income must be applied or accumulated wholly and exclusively to the society's objects; investments or deposits of funds must be only in forms/modes specified in section 11(5) except for voluntary contributions kept as jewellery, furniture, etc.; and the notification does not apply to business income unless incidental to objectives and maintained in separate books.
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