Tax exemption under section 10(23) granted subject to application, investment, distribution and business-incidence conditions for specified years Notification grants tax exemption under clause (23) of section 10 to The Indian Golf Union, Calcutta for specified assessment years subject to conditions: income must be applied or accumulated exclusively for institutional objects under modified section 11 rules; investments restricted to statutory permitted modes and notified forms; no distribution of income to members except grants to affiliated bodies; business income excluded unless incidental to objectives and maintained in separate books.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23) granted subject to application, investment, distribution and business-incidence conditions for specified years
Notification grants tax exemption under clause (23) of section 10 to The Indian Golf Union, Calcutta for specified assessment years subject to conditions: income must be applied or accumulated exclusively for institutional objects under modified section 11 rules; investments restricted to statutory permitted modes and notified forms; no distribution of income to members except grants to affiliated bodies; business income excluded unless incidental to objectives and maintained in separate books.
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