Tax exemption notification grants charitable trust recognition with conditions restricting investments and business income treatment. Notification under section 10(23C)(v) notifies Sri Bala Murgan Devasthanam Trust, Ahmedabad for the specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; funds must be invested or deposited only in modes specified in section 11(5) except certain voluntary contributions kept as jewellery or furniture; and business profits are 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 trust recognition with conditions restricting investments and business income treatment.
Notification under section 10(23C)(v) notifies Sri Bala Murgan Devasthanam Trust, Ahmedabad for the specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; funds must be invested or deposited only in modes specified in section 11(5) except certain voluntary contributions kept as jewellery or furniture; and business profits are excluded unless incidental to objectives and maintained in separate books.
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