Income-tax exemption under section 10(23C)(iv) granted subject to exclusive application of income and permitted investment modes. Notification under sub-clause (iv) of clause (23C) of section 10 notifies Bhagini Samaj, Bombay for the stated assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for the organisation's objects; funds may be invested only in forms permitted by subsection (5) of section 11 (excluding voluntary contributions held as jewellery, furniture, etc.); and the notification does not apply to business income unless the business is incidental to the objectives and separate books are maintained for it.
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.
Income-tax exemption under section 10(23C)(iv) granted subject to exclusive application of income and permitted investment modes.
Notification under sub-clause (iv) of clause (23C) of section 10 notifies Bhagini Samaj, Bombay for the stated assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for the organisation's objects; funds may be invested only in forms permitted by subsection (5) of section 11 (excluding voluntary contributions held as jewellery, furniture, etc.); and the notification does not apply to business income unless the business is incidental to the objectives and separate books are maintained for it.
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 
