Tax exemption eligibility requires exclusive application of income, restricted investments, and separate accounting for incidental business. Notification under section 10(23C)(iv) designates All Bengal Women's Union, Calcutta as eligible for that sub clause for assessment years 1990-91 to 1992-93, conditional on (i) applying or accumulating income wholly and exclusively to its objects, (ii) restricting investments or deposits to modes specified in section 11(5) except for certain voluntary contributions in kind, and (iii) excluding business income unless incidental to 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 eligibility requires exclusive application of income, restricted investments, and separate accounting for incidental business.
Notification under section 10(23C)(iv) designates All Bengal Women's Union, Calcutta as eligible for that sub clause for assessment years 1990-91 to 1992-93, conditional on (i) applying or accumulating income wholly and exclusively to its objects, (ii) restricting investments or deposits to modes specified in section 11(5) except for certain voluntary contributions in kind, and (iii) excluding business income unless incidental to objectives with separate books maintained.
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