Income-tax exemption notification: trust allowed exemption subject to exclusive application of income and specified investment modes. Notification under clause (23C)(v) of section 10 notifies Shri Jagadamba Mandir Trust for specified assessment years subject to conditions that income be applied or accumulated wholly and exclusively to the trust's objects, that investments and deposits (except voluntary contributions held as jewellery, furniture, etc.) be restricted to forms specified in section 11(5), and that business income is eligible only if incidental to the 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.
Income-tax exemption notification: trust allowed exemption subject to exclusive application of income and specified investment modes.
Notification under clause (23C)(v) of section 10 notifies Shri Jagadamba Mandir Trust for specified assessment years subject to conditions that income be applied or accumulated wholly and exclusively to the trust's objects, that investments and deposits (except voluntary contributions held as jewellery, furniture, etc.) be restricted to forms specified in section 11(5), and that business income is eligible only if incidental to the objectives with separate books maintained.
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