Tax exemption under clause (23C)(v) applied to a charity, subject to income application and investment restrictions. Notification grants tax exemption under clause (23C)(v) of section 10 to T.V.S. Charities, Madurai for assessment years 1992-93 to 1994-95, on conditions that the assessee applies or accumulates income exclusively for its objects, limits investments or deposits to modes permitted by law (excluding certain tangible voluntary contributions), and disallows exemption for business income except where incidental to objectives 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.
Tax exemption under clause (23C)(v) applied to a charity, subject to income application and investment restrictions.
Notification grants tax exemption under clause (23C)(v) of section 10 to T.V.S. Charities, Madurai for assessment years 1992-93 to 1994-95, on conditions that the assessee applies or accumulates income exclusively for its objects, limits investments or deposits to modes permitted by law (excluding certain tangible voluntary contributions), and disallows exemption for business income except where incidental to objectives and accounted for in separate books.
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