Tax exemption notification under section 10(23C)(v) imposes application and permitted investment conditions on the trust. Notification under section 10(23C)(v) notifies Shri 108 Shri Prannath Ji Mandir Trust as eligible for income-tax exemption for specified assessment years, provided the trust applies or accumulates its income solely for its objects, confines investments to forms permitted by subsection (5) of section 11 (except certain voluntary contributions held as jewellery or furniture), and excludes business income unless incidental to objectives with separate books 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.
Tax exemption notification under section 10(23C)(v) imposes application and permitted investment conditions on the trust.
Notification under section 10(23C)(v) notifies Shri 108 Shri Prannath Ji Mandir Trust as eligible for income-tax exemption for specified assessment years, provided the trust applies or accumulates its income solely for its objects, confines investments to forms permitted by subsection (5) of section 11 (except certain voluntary contributions held as jewellery or furniture), and excludes business income unless incidental to objectives with separate books maintained for such business.
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