Income-tax exemption for notified charitable institution subject to application and investment conditions and limitation on business income requiring separate books. Notifies the Centre for Science and Environment as entitled to income-tax exemption for the specified assessment years, subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments and deposits to prescribed modes (with an exception for voluntary contributions held as tangible articles); and exclude business profits from exemption unless the business is incidental to its objects 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.
Income-tax exemption for notified charitable institution subject to application and investment conditions and limitation on business income requiring separate books.
Notifies the Centre for Science and Environment as entitled to income-tax exemption for the specified assessment years, subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments and deposits to prescribed modes (with an exception for voluntary contributions held as tangible articles); and exclude business profits from exemption unless the business is incidental to its objects and maintained in separate books of account.
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