Tax exemption notification under section 10(23C)(v) grants status subject to application, investment, and business conditions. Notification under section 10(23C)(v) notifies Catholic Diocess of Meerut as qualifying for the sub-clause for specified assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to the assessee's objects; funds may only be invested or deposited in the forms or modes specified in sub-section (5) of section 11 (except voluntary contributions kept as jewellery, furniture etc.); and the notification does not apply to profits and gains of business unless the business is incidental to the objectives and separate books of account are maintained.
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 under section 10(23C)(v) grants status subject to application, investment, and business conditions.
Notification under section 10(23C)(v) notifies Catholic Diocess of Meerut as qualifying for the sub-clause for specified assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to the assessee's objects; funds may only be invested or deposited in the forms or modes specified in sub-section (5) of section 11 (except voluntary contributions kept as jewellery, furniture etc.); and the notification does not apply to profits and gains of business unless the business is incidental to the objectives and separate books of account are maintained.
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