Tax exemption under section 10(23): conditional notification grants Gujarat Cricket Association exemption subject to application, investment, distribution and business conditions. Notification under Section 10(23) conditions Gujarat Cricket Association's tax-exempt status on application and accumulation of income solely for its objects, restricts investments of voluntary contributions to permitted modes, prohibits distribution of income to members except grants to affiliated institutions, and disqualifies business profits 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 exemption under section 10(23): conditional notification grants Gujarat Cricket Association exemption subject to application, investment, distribution and business conditions.
Notification under Section 10(23) conditions Gujarat Cricket Association's tax-exempt status on application and accumulation of income solely for its objects, restricts investments of voluntary contributions to permitted modes, prohibits distribution of income to members except grants to affiliated institutions, and disqualifies business profits unless incidental to objectives with separate books maintained.
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