Tax exemption under section 10(23C)(v) curtailed by strict conditions on application of funds, permitted investments, and business income. Notification grants tax-exempt status to Sri Raghavendra Swamy Mutt for specified assessment years subject to conditions: income must be applied or accumulated only for the institution's objects; funds must be invested only in forms specified in section 11(5) except voluntary contributions held in kind; and business profits are excluded unless the business is incidental 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 under section 10(23C)(v) curtailed by strict conditions on application of funds, permitted investments, and business income.
Notification grants tax-exempt status to Sri Raghavendra Swamy Mutt for specified assessment years subject to conditions: income must be applied or accumulated only for the institution's objects; funds must be invested only in forms specified in section 11(5) except voluntary contributions held in kind; and business profits are excluded unless the business is incidental and maintained in separate books.
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