Tax exemption under charitable-exemption provision granted subject to exclusive application of income and prescribed investment conditions for specified years. Notification grants tax-exempt status to The Church of South India Trust Association, Madras for specified assessment years subject to conditions: income must be applied or accumulated exclusively for the trust's objects; investments or deposits of funds are allowed only in prescribed forms except for certain tangible voluntary contributions; and profits and gains of business are excluded from the notification unless the business is incidental to the objectives and separate books of account are 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 exemption under charitable-exemption provision granted subject to exclusive application of income and prescribed investment conditions for specified years.
Notification grants tax-exempt status to The Church of South India Trust Association, Madras for specified assessment years subject to conditions: income must be applied or accumulated exclusively for the trust's objects; investments or deposits of funds are allowed only in prescribed forms except for certain tangible voluntary contributions; and profits and gains of business are excluded from the notification unless the business is incidental to the objectives and separate books of account are maintained.
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