Tax exemption notification: charity income allowed if applied to objects, invested in specified modes, and business is incidental. Central Government notifies Cathedral Relief Service, Calcutta under sub clause (iv) of clause (23C) of section 10 for assessment years 1990 91 to 1992 93, subject to conditions: the assessee must apply or accumulate income wholly and exclusively to its objects; invest or deposit funds only in the forms or modes specified in sub section (5) of section 11 (excluding certain voluntary contributions held as jewellery or furniture); and the notification excludes profits and gains of business unless the business is incidental and separate books of account are maintained.
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Tax exemption notification: charity income allowed if applied to objects, invested in specified modes, and business is incidental.
Central Government notifies Cathedral Relief Service, Calcutta under sub clause (iv) of clause (23C) of section 10 for assessment years 1990 91 to 1992 93, subject to conditions: the assessee must apply or accumulate income wholly and exclusively to its objects; invest or deposit funds only in the forms or modes specified in sub section (5) of section 11 (excluding certain voluntary contributions held as jewellery or furniture); and the notification excludes profits and gains of business unless the business is incidental and separate books of account are maintained.
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