Tax exemption for notified charitable institution conditioned on exclusive application of income and permitted investments, with business income limits. The Central Government notifies Malankara Syrian Knanaya Church for specified assessment years on condition that it apply or accumulate its income wholly and exclusively to its objects; restrict investments to permitted forms (excluding voluntary contributions retained as jewellery, furniture, etc.); and that business income is excluded from the notification unless the business is incidental to objectives and maintained in separate books of account.
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 for notified charitable institution conditioned on exclusive application of income and permitted investments, with business income limits.
The Central Government notifies Malankara Syrian Knanaya Church for specified assessment years on condition that it apply or accumulate its income wholly and exclusively to its objects; restrict investments to permitted forms (excluding voluntary contributions retained as jewellery, furniture, etc.); and that business income is excluded from the notification unless the business is incidental to objectives and maintained in separate books of account.
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