Exemption under section 10(23C)(v) granted subject to exclusive application of income and section 11(5) investment limits. Recognition under section 10(23C)(v) is granted to the trust for the stated assessment years on conditions that income be applied wholly and exclusively to its objects; investments or deposits of funds are limited to permitted forms or modes as specified in section 11(5) (with an allowance for voluntary contributions retained as jewellery, furniture, etc.); and business profits are excluded unless the business is incidental and maintained 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.
Exemption under section 10(23C)(v) granted subject to exclusive application of income and section 11(5) investment limits.
Recognition under section 10(23C)(v) is granted to the trust for the stated assessment years on conditions that income be applied wholly and exclusively to its objects; investments or deposits of funds are limited to permitted forms or modes as specified in section 11(5) (with an allowance for voluntary contributions retained as jewellery, furniture, etc.); and business profits are excluded unless the business is incidental and maintained in separate books.
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