Tax exemption under section 10(23C)(v) notified for a temple trust, subject to income application and investment conditions. Notification under section 10(23C)(v) notifies Shree Siddhi Vinayak Ganapath Temple Trust, Bombay for specified assessment years subject to conditions: (i) income must be applied or accumulated wholly and exclusively for its objects; (ii) funds may not be invested or deposited except in forms specified in section 11(5), except voluntary contributions maintained as jewellery, furniture, etc.; and (iii) exemption does not apply to business income unless incidental to objectives and accounted for in separate books.
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(23C)(v) notified for a temple trust, subject to income application and investment conditions.
Notification under section 10(23C)(v) notifies Shree Siddhi Vinayak Ganapath Temple Trust, Bombay for specified assessment years subject to conditions: (i) income must be applied or accumulated wholly and exclusively for its objects; (ii) funds may not be invested or deposited except in forms specified in section 11(5), except voluntary contributions maintained as jewellery, furniture, etc.; and (iii) exemption does not apply to business income unless incidental to objectives and accounted for in separate books.
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