Tax exemption under section 10(23) granted to Sports Authority of India subject to application, investment, and distribution conditions. Notification grants tax-exempt status to The Sports Authority of India for specified assessment years subject to conditions: application or accumulation of income exclusively for its objects in accordance with the law; restricted forms and modes of investment for funds other than voluntary contributions; prohibition on distributing income to members except as grants to affiliated bodies; and exclusion of business income unless incidental and recorded in separate books of account.
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) granted to Sports Authority of India subject to application, investment, and distribution conditions.
Notification grants tax-exempt status to The Sports Authority of India for specified assessment years subject to conditions: application or accumulation of income exclusively for its objects in accordance with the law; restricted forms and modes of investment for funds other than voluntary contributions; prohibition on distributing income to members except as grants to affiliated bodies; and exclusion of business income unless incidental and recorded in separate books of account.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
