Tax exemption for a notified educational institute conditioned on exclusive use of income and restricted permitted investments. Notification under 10(23C)(v) designates William Carey Study and Research Centre as eligible for the stated income-tax exemption for assessment years 1991-92 to 1992-93, conditional on applying or accumulating income wholly and exclusively for its objects, investing funds only in modes permitted by section 11(5) (with an exception for certain voluntary contributions held as jewellery or furniture), and excluding business income unless incidental 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 for a notified educational institute conditioned on exclusive use of income and restricted permitted investments.
Notification under 10(23C)(v) designates William Carey Study and Research Centre as eligible for the stated income-tax exemption for assessment years 1991-92 to 1992-93, conditional on applying or accumulating income wholly and exclusively for its objects, investing funds only in modes permitted by section 11(5) (with an exception for certain voluntary contributions held as jewellery or furniture), and excluding business income unless incidental with separate books maintained.
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