Notification under section 10(23C)(v): charitable recognition subject to exclusive income application, specified investment modes and business conditions. Notification under section 10(23C)(v) notifies The Divine Life Society for specified assessment years subject to conditions: the assessee must apply or accumulate income wholly and exclusively to its objects; restrict investments and deposits (other than certain voluntary contributions maintained as jewellery, furniture, etc.) to forms or modes specified in sub section (5) of section 11; and the notification does not apply to business income unless the business is incidental to the objectives and separate books of account are maintained for such business.
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.
Notification under section 10(23C)(v): charitable recognition subject to exclusive income application, specified investment modes and business conditions.
Notification under section 10(23C)(v) notifies The Divine Life Society for specified assessment years subject to conditions: the assessee must apply or accumulate income wholly and exclusively to its objects; restrict investments and deposits (other than certain voluntary contributions maintained as jewellery, furniture, etc.) to forms or modes specified in sub section (5) of section 11; and the notification does not apply to business income unless the business is incidental to the objectives and separate books of account are maintained for such business.
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