Tax exemption eligibility: notified trust conditional on exclusive application of income, limited investments, and separate accounting for incidental business. Notification recognizes the trust under 10(23C)(v) subject to conditions: income must be applied or accumulated solely for the trust's objects; funds may be invested only in forms permissible for charitable endowments (excluding voluntary contributions kept in kind); 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 eligibility: notified trust conditional on exclusive application of income, limited investments, and separate accounting for incidental business.
Notification recognizes the trust under 10(23C)(v) subject to conditions: income must be applied or accumulated solely for the trust's objects; funds may be invested only in forms permissible for charitable endowments (excluding voluntary contributions kept in kind); and business income is excluded unless incidental to objectives and maintained in separate books.
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