Tax exemption granted to regional cricket association subject to conditions on application, investment, distributions, and business accounting. Notification designates Bulsar District Cricket Association as exempt under clause (23) of section 10 for the specified assessment years, subject to conditions: income must be applied or accumulated in alignment with modified section 11 provisions for exclusive objects; investments and deposits are limited to statutory forms (with narrow exception for certain voluntary contributions); income must not be distributed to members except as grants to affiliated bodies; and exemption excludes business profits unless incidental and recorded 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 granted to regional cricket association subject to conditions on application, investment, distributions, and business accounting.
Notification designates Bulsar District Cricket Association as exempt under clause (23) of section 10 for the specified assessment years, subject to conditions: income must be applied or accumulated in alignment with modified section 11 provisions for exclusive objects; investments and deposits are limited to statutory forms (with narrow exception for certain voluntary contributions); income must not be distributed to members except as grants to affiliated bodies; and exemption excludes business profits unless incidental and recorded in separate books.
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