Tax notification granting exemption to a cultural centre, subject to exclusive application of income, permitted investments, and business conditions. Notification grants tax-exempt status to West Zone Cultural Centre for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; funds must be invested only in permitted forms under income tax investment provisions, except voluntary contributions held in kind; 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 notification granting exemption to a cultural centre, subject to exclusive application of income, permitted investments, and business conditions.
Notification grants tax-exempt status to West Zone Cultural Centre for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; funds must be invested only in permitted forms under income tax investment provisions, except voluntary contributions held in kind; business income is excluded unless incidental to objectives and maintained in separate books.
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