Charitable tax exemption granted for association subject to application of income, permitted investments, and business bookkeeping rules. Notification grants tax exemption under clause (23) of section 10 of the Income-tax Act to The Bengal Table Tennis Association, Calcutta for assessment years 1990-91 to 1992-93 subject to conditions: apply or accumulate income exclusively for its objects per section 11; restrict investments and deposits to notified forms or modes in section 11(5); prohibit distribution of income to members except as grants to affiliated bodies; and exclude business profits unless incidental to objectives with separate books maintained.
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Provisions expressly mentioned in the judgment/order text.
Charitable tax exemption granted for association subject to application of income, permitted investments, and business bookkeeping rules.
Notification grants tax exemption under clause (23) of section 10 of the Income-tax Act to The Bengal Table Tennis Association, Calcutta for assessment years 1990-91 to 1992-93 subject to conditions: apply or accumulate income exclusively for its objects per section 11; restrict investments and deposits to notified forms or modes in section 11(5); prohibit distribution of income to members except as grants to affiliated bodies; and exclude business profits unless incidental to objectives with separate books maintained.
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