Charitable exemption under section 10(23C)(v) subject to exclusive income application, permitted investment modes and separate books for business income. Notifies a charitable society as eligible under the charitable-exemption provision for specified assessment years, conditioned on applying or accumulating income wholly and exclusively to its objects; restricting investments or deposits to modes permitted by law (excluding certain voluntary contributions kept as jewellery or furniture); and excluding business profits unless the business is incidental to the objectives and is maintained in separate books of account.
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 exemption under section 10(23C)(v) subject to exclusive income application, permitted investment modes and separate books for business income.
Notifies a charitable society as eligible under the charitable-exemption provision for specified assessment years, conditioned on applying or accumulating income wholly and exclusively to its objects; restricting investments or deposits to modes permitted by law (excluding certain voluntary contributions kept as jewellery or furniture); and excluding business profits unless the business is incidental to the objectives and is maintained in separate books of account.
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