Charitable exemption notification under section 10(23C)(v) grants tax recognition subject to investment and business conditions. Government notification recognizes Friends Missionary Prayer Band, Madras under section 10(23C)(v) for specified assessment years on conditions that income be applied or accumulated exclusively for its objects, funds (except certain retained voluntary contributions) be invested only in permitted forms, and business income is excluded unless incidental to its objectives with separate accounting 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.
Charitable exemption notification under section 10(23C)(v) grants tax recognition subject to investment and business conditions.
Government notification recognizes Friends Missionary Prayer Band, Madras under section 10(23C)(v) for specified assessment years on conditions that income be applied or accumulated exclusively for its objects, funds (except certain retained voluntary contributions) be invested only in permitted forms, and business income is excluded unless incidental to its objectives with separate accounting maintained.
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