Tax exemption under section 10(23C)(v) granted with conditions on application, investment of funds and business income treatment. Notification under section 10(23C)(v) notifies Sri Vedanta Desikar Devasthanam, Madras for specified assessment years subject to conditions: (i) income must be applied or accumulated wholly and exclusively for the institution's objects; (ii) funds (other than certain voluntary contributions retained as jewellery, furniture etc.) must be invested only in modes specified in section 11; and (iii) the notification does not apply to business income unless the business is incidental and separate books are 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 under section 10(23C)(v) granted with conditions on application, investment of funds and business income treatment.
Notification under section 10(23C)(v) notifies Sri Vedanta Desikar Devasthanam, Madras for specified assessment years subject to conditions: (i) income must be applied or accumulated wholly and exclusively for the institution's objects; (ii) funds (other than certain voluntary contributions retained as jewellery, furniture etc.) must be invested only in modes specified in section 11; and (iii) the notification does not apply to business income unless the business is incidental and separate books are maintained.
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