Charitable exemption recognition for a memorial society subject to exclusive income application and investment and business conditions. Notification grants tax exemption recognition to Sardar Vallabhbhai Patel Memorial Society for specified assessment years subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments or deposits to permitted modes with exception for voluntary contributions held in kind; and exclude business profits from the concession unless the business is incidental to objectives and accounted for 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.
Charitable exemption recognition for a memorial society subject to exclusive income application and investment and business conditions.
Notification grants tax exemption recognition to Sardar Vallabhbhai Patel Memorial Society for specified assessment years subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments or deposits to permitted modes with exception for voluntary contributions held in kind; and exclude business profits from the concession unless the business is incidental to objectives and accounted for in separate books.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
