Tax exemption notification grants charitable status subject to exclusive application of income and permitted investment modes. Notification confers charitable status on the Consumer Guidance Society of India for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for the society's objects; investments must be confined to forms or modes permitted under section 11(5) except for certain voluntary contributions maintained as tangible items; and business income is excluded unless incidental to the objectives with separate books maintained for such business.
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 grants charitable status subject to exclusive application of income and permitted investment modes.
Notification confers charitable status on the Consumer Guidance Society of India for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for the society's objects; investments must be confined to forms or modes permitted under section 11(5) except for certain voluntary contributions maintained as tangible items; and business income is excluded unless incidental to the objectives with separate books maintained for such business.
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