Tax exemption for charitable trust conditioned on exclusive application of income, permitted investments, and segregated incidental business accounting. Notification grants tax-exempt recognition to a charitable institution for specified assessment years conditional on applying or accumulating income wholly and exclusively to its objects, restricting investments to permitted forms under trust investment rules (excluding certain tangible voluntary contributions), and excluding business profits unless the business is incidental and accounted for 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 for charitable trust conditioned on exclusive application of income, permitted investments, and segregated incidental business accounting.
Notification grants tax-exempt recognition to a charitable institution for specified assessment years conditional on applying or accumulating income wholly and exclusively to its objects, restricting investments to permitted forms under trust investment rules (excluding certain tangible voluntary contributions), and excluding business profits unless the business is incidental and accounted for in separate books.
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