Charitable exemption recognition conditioned on exclusive application of income and restricted statutory investment modes. Recognition under the charitable exemption is subject to conditions: income must be applied or accumulated wholly and exclusively to the society's objects; funds (other than certain voluntary contributions) may be invested only in statutory modes; and the notification excludes business income 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.
Charitable exemption recognition conditioned on exclusive application of income and restricted statutory investment modes.
Recognition under the charitable exemption is subject to conditions: income must be applied or accumulated wholly and exclusively to the society's objects; funds (other than certain voluntary contributions) may be invested only in statutory modes; and the notification excludes business income unless incidental to objectives and maintained in separate books.
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