Tax notification under section 10(23C)(v) grants exemption to a trust subject to application, investment and business conditions. Notification under section 10(23C)(v) notifies Arpana Trust, Madhuban, Karnal, Haryana, as eligible for the sub-clause for assessment years 1991-92 to 1993-94, subject to conditions that income be applied or accumulated wholly and exclusively to the trust's objects, that funds be invested only in forms specified in section 11(5) (except certain retained voluntary contributions), and that business income is excluded unless incidental to objectives with separate books maintained.
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 notification under section 10(23C)(v) grants exemption to a trust subject to application, investment and business conditions.
Notification under section 10(23C)(v) notifies Arpana Trust, Madhuban, Karnal, Haryana, as eligible for the sub-clause for assessment years 1991-92 to 1993-94, subject to conditions that income be applied or accumulated wholly and exclusively to the trust's objects, that funds be invested only in forms specified in section 11(5) (except certain retained voluntary contributions), and that business income is excluded unless incidental to objectives with separate books maintained.
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