Tax exemption notification for charitable institution requires exclusive application of income and restricted investments, plus separate accounting for incidental business. Notification designates Chief Khalsa Diwan, Amritsar as a notified institution under section 10(23C)(v) for specified assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; investments or deposits of funds are restricted to forms or modes specified in section 11(5) except for certain voluntary contributions maintained in tangible forms; and the notification excludes business profits unless the business is incidental to the objects 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 notification for charitable institution requires exclusive application of income and restricted investments, plus separate accounting for incidental business.
Notification designates Chief Khalsa Diwan, Amritsar as a notified institution under section 10(23C)(v) for specified assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; investments or deposits of funds are restricted to forms or modes specified in section 11(5) except for certain voluntary contributions maintained in tangible forms; and the notification excludes business profits unless the business is incidental to the objects and separate books of account are maintained.
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