Charitable exemption notification limits income application and restricts investment and business income conditions for specified assessment years. Notification grants Manav Seva Sangh exemption for specified assessment years subject to conditions: the assessee must apply or accumulate its income wholly and exclusively to its objects; investments or deposits are limited to permitted forms or modes with voluntary in kind contributions excepted; and business income is excluded unless incidental to objectives and kept 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.
Charitable exemption notification limits income application and restricts investment and business income conditions for specified assessment years.
Notification grants Manav Seva Sangh exemption for specified assessment years subject to conditions: the assessee must apply or accumulate its income wholly and exclusively to its objects; investments or deposits are limited to permitted forms or modes with voluntary in kind contributions excepted; and business income is excluded unless incidental to objectives and kept in separate books of account.
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