Charitable trust tax exemption under section 10(23C)(v) requires exclusive application of income and restricted permissible investments. Notification under section 10(23C)(v) recognises His Holiness The Dalai Lama's Charitable Trust for specified assessment years subject to conditions: the trust must apply or accumulate its income wholly and exclusively to its objects; limit investments or deposits to forms specified in section 11(5) (excluding certain voluntary contributions kept as jewellery, furniture or similar); and the notification does not apply to business profits unless the business is incidental 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.
Charitable trust tax exemption under section 10(23C)(v) requires exclusive application of income and restricted permissible investments.
Notification under section 10(23C)(v) recognises His Holiness The Dalai Lama's Charitable Trust for specified assessment years subject to conditions: the trust must apply or accumulate its income wholly and exclusively to its objects; limit investments or deposits to forms specified in section 11(5) (excluding certain voluntary contributions kept as jewellery, furniture or similar); and the notification does not apply to business profits unless the business is incidental and accounted for in separate books.
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