Tax exemption under sub-clause (v) of clause 23C limits benefit to temples meeting application, investment, and accounting conditions. Notification grants exemption under sub-clause (v) of clause (23C) of section 10 to Arulmigu Ramanathaswamy Temple for specified assessment years provided the temple applies or accumulates income wholly and exclusively for its objects, limits investments and deposits to forms permitted under section 11(5) (except certain voluntary contributions), and that business income is excluded unless incidental and accounted for in separate books.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under sub-clause (v) of clause 23C limits benefit to temples meeting application, investment, and accounting conditions.
Notification grants exemption under sub-clause (v) of clause (23C) of section 10 to Arulmigu Ramanathaswamy Temple for specified assessment years provided the temple applies or accumulates income wholly and exclusively for its objects, limits investments and deposits to forms permitted under section 11(5) (except certain voluntary contributions), and that business income is excluded unless incidental and accounted for in separate books.
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