Tax exemption under section 10(23) for All India Tennis Association subject to application, investment, distribution and business conditions. Notification under section 10(23) grants tax-exempt status to the All India Tennis Association for listed assessment years subject to conditions: income must be applied or accumulated exclusively for the Association's objects under the modified accumulation rules; funds may only be invested or deposited in permitted modes, with limited exception for certain voluntary contributions; income distribution to members is barred except via grants to affiliated bodies; and business profits are excluded unless incidental to objectives and maintained in separate accounts.
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 section 10(23) for All India Tennis Association subject to application, investment, distribution and business conditions.
Notification under section 10(23) grants tax-exempt status to the All India Tennis Association for listed assessment years subject to conditions: income must be applied or accumulated exclusively for the Association's objects under the modified accumulation rules; funds may only be invested or deposited in permitted modes, with limited exception for certain voluntary contributions; income distribution to members is barred except via grants to affiliated bodies; and business profits are excluded unless incidental to objectives and maintained in separate accounts.
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