Tax exemption conditioned on exclusive application of income and restricted investments; business income excluded unless incidental with separate books. Notification designates the institution for tax exemption under section 10(23C)(v) for specified assessment years subject to conditions: income must be applied or accumulated exclusively for the institution's objects; investments or deposits are limited to permitted forms for charitable application, except voluntary contributions maintained as jewellery or furniture; and business income is excluded unless incidental to objectives and maintained in separate books.
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 conditioned on exclusive application of income and restricted investments; business income excluded unless incidental with separate books.
Notification designates the institution for tax exemption under section 10(23C)(v) for specified assessment years subject to conditions: income must be applied or accumulated exclusively for the institution's objects; investments or deposits are limited to permitted forms for charitable application, except voluntary contributions maintained as jewellery or furniture; and business income is excluded unless incidental to objectives and maintained in separate books.
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