Tax exemption notification under section 10(23C)(iv) conditions income application and prescribes permitted investments for notified body. Notification under section 10(23C)(iv) notifies Indian Silk Export Promotion Council, Bombay, for the stated assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to the institution's objects; funds (other than voluntary contributions retained in tangible forms) may only be invested in modes permitted by law; and income that is profits and gains of business is excluded 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 notification under section 10(23C)(iv) conditions income application and prescribes permitted investments for notified body.
Notification under section 10(23C)(iv) notifies Indian Silk Export Promotion Council, Bombay, for the stated assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to the institution's objects; funds (other than voluntary contributions retained in tangible forms) may only be invested in modes permitted by law; and income that is profits and gains of business is excluded unless the business is incidental to objectives and maintained in separate books of account.
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