Tax exemption under section 10(23C)(v) granted to a religious charity, conditional on income use and investment limits. Notification under Section 10(23C)(v) confers tax-exempt status on Calcutta Zoroastrain Community's Religious Charity Funds for specified assessment years, conditioned on applying or accumulating income wholly and exclusively to charitable objects, restricting investments to modes specified in subsection (5) of section 11 (with an exception for voluntary contributions held as jewellery or furniture), and excluding business income unless incidental and recorded in separate books.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23C)(v) granted to a religious charity, conditional on income use and investment limits.
Notification under Section 10(23C)(v) confers tax-exempt status on Calcutta Zoroastrain Community's Religious Charity Funds for specified assessment years, conditioned on applying or accumulating income wholly and exclusively to charitable objects, restricting investments to modes specified in subsection (5) of section 11 (with an exception for voluntary contributions held as jewellery or furniture), and excluding business income unless incidental and recorded in separate books.
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