Charitable trust recognition secured, conditioned on exclusive application of income, restricted investment modes and segregated business accounts. Government recognises Sree Padmanabhaswamy Temple Trust for tax purposes subject to conditions: income must be applied or accumulated solely for its objects; investments or deposits are permitted only in the statutory modes except for voluntary contributions retained in kind; and profits and gains of business are excluded unless incidental to the trust's objects 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 trust recognition secured, conditioned on exclusive application of income, restricted investment modes and segregated business accounts.
Government recognises Sree Padmanabhaswamy Temple Trust for tax purposes subject to conditions: income must be applied or accumulated solely for its objects; investments or deposits are permitted only in the statutory modes except for voluntary contributions retained in kind; and profits and gains of business are excluded unless incidental to the trust's objects with separate books maintained.
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