Tax exemption notification for a charitable institution conditioned on exclusive application of income and permitted investment modes. Notification under section 10(23C)(v) grants Jai Phiorj Clubwala Dar-E-Meher conditional exemption provided the assessee applies or accumulates income wholly and exclusively to its objects, confines investments and deposits to the forms permitted for charitable funds (excluding certain voluntary contributions held as jewellery or furniture), and excludes business profits unless the business is incidental to its 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.
Tax exemption notification for a charitable institution conditioned on exclusive application of income and permitted investment modes.
Notification under section 10(23C)(v) grants Jai Phiorj Clubwala Dar-E-Meher conditional exemption provided the assessee applies or accumulates income wholly and exclusively to its objects, confines investments and deposits to the forms permitted for charitable funds (excluding certain voluntary contributions held as jewellery or furniture), and excludes business profits unless the business is incidental to its objectives with separate books maintained.
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