Tax exemption granted subject to conditions restricting investments, distributions and business income to charitable objects. Notification grants tax exemption to the Bulsar District Cricket Association for specified assessment years, conditional on applying or accumulating income solely for its objects consistent with sections 11(2) and 11(3) as modified by clause (23); limiting investments to forms in section 11(5) (except certain notified articles); prohibiting distribution of income to members except by grants to affiliated institutions; and excluding business profits unless incidental to objectives with separate accounts.
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 granted subject to conditions restricting investments, distributions and business income to charitable objects.
Notification grants tax exemption to the Bulsar District Cricket Association for specified assessment years, conditional on applying or accumulating income solely for its objects consistent with sections 11(2) and 11(3) as modified by clause (23); limiting investments to forms in section 11(5) (except certain notified articles); prohibiting distribution of income to members except by grants to affiliated institutions; and excluding business profits unless incidental to objectives with separate accounts.
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