Tax exemption notification grants charitable status subject to exclusive income application and investment and business-accounting conditions. Notification grants tax-exempt status to the Gujarat Pollution Control Board for specified assessment years on conditions that income be applied or accumulated wholly and exclusively for its objects; investments or deposits (except certain preserved voluntary contributions) conform to permitted modes for charitable funds; and business income is excluded unless incidental to objectives and maintained in separate books.
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 income application and investment and business-accounting conditions.
Notification grants tax-exempt status to the Gujarat Pollution Control Board for specified assessment years on conditions that income be applied or accumulated wholly and exclusively for its objects; investments or deposits (except certain preserved voluntary contributions) conform to permitted modes for charitable funds; and business income is excluded unless incidental to objectives and maintained in separate books.
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