Tax exemption notification conditions charitable recognition on exclusive application of income and permitted investment modes. Notification under 10(23C)(v) recognizes Mar Thoma Syrian Church of Malabar for specified assessment years subject to conditions: income must be applied or accumulated solely for institutional objects; investments or deposits must be in permitted forms for charitable funds (excluding non permitted placements other than certain maintained movable contributions); and business profits are excluded from the notification unless the trade is incidental to objectives and maintained with 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 notification conditions charitable recognition on exclusive application of income and permitted investment modes.
Notification under 10(23C)(v) recognizes Mar Thoma Syrian Church of Malabar for specified assessment years subject to conditions: income must be applied or accumulated solely for institutional objects; investments or deposits must be in permitted forms for charitable funds (excluding non permitted placements other than certain maintained movable contributions); and business profits are excluded from the notification unless the trade is incidental to objectives and maintained with 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 
