Charitable institution exemption under section 10(23C)(v) granted, subject to income application, investment limits and business conditions. Central Government notifies The Late Ervad D. B. Mehta's Zorastrain Anjuman Atash Adaran, Calcutta under section 10(23C)(v) for assessment years 1990-91 to 1992-93, subject to conditions: income must be applied or accumulated exclusively for the institution's objects; funds (except voluntary contributions retained as jewellery, furniture, etc.) must be invested only in forms specified in section 11(5); and the notification excludes business profits unless the business is incidental to the objectives and separate books of account are maintained.
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Provisions expressly mentioned in the judgment/order text.
Charitable institution exemption under section 10(23C)(v) granted, subject to income application, investment limits and business conditions.
Central Government notifies The Late Ervad D. B. Mehta's Zorastrain Anjuman Atash Adaran, Calcutta under section 10(23C)(v) for assessment years 1990-91 to 1992-93, subject to conditions: income must be applied or accumulated exclusively for the institution's objects; funds (except voluntary contributions retained as jewellery, furniture, etc.) must be invested only in forms specified in section 11(5); and the notification excludes business profits unless the business is incidental to the objectives and separate books of account are maintained.
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