Tax exemption under section 10(23C)(iv): trust notified subject to exclusive application of income and investment limits. Notification under section 10(23C)(iv) declares Punjab Isti Sabha Relief Trust eligible for the exemption for assessment years 1991-92 to 1993-94 subject to conditions: income must be applied or accumulated exclusively for the trust's objects; investments/deposits of funds are permitted only in modes specified in section 11(5) (excluding certain voluntary contributions held in kind); and business income is excluded unless incidental to objectives and recorded 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.
Tax exemption under section 10(23C)(iv): trust notified subject to exclusive application of income and investment limits.
Notification under section 10(23C)(iv) declares Punjab Isti Sabha Relief Trust eligible for the exemption for assessment years 1991-92 to 1993-94 subject to conditions: income must be applied or accumulated exclusively for the trust's objects; investments/deposits of funds are permitted only in modes specified in section 11(5) (excluding certain voluntary contributions held in kind); and business income is excluded unless incidental to objectives and recorded in separate books of account.
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