Tax exemption under section 10(23C)(v) recognised for Diocese of Calcutta, subject to specified application and investment conditions. Notification confers tax exemption recognition on Diocese of Calcutta for assessment years 1993 94 to 1995 96, subject to conditions: income must be applied or accumulated solely for the institution's objects; funds (other than certain voluntary contributions in kind) must be invested only in forms permitted by income tax law; and business profits are excluded unless incidental to objectives and kept in separate books of account.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23C)(v) recognised for Diocese of Calcutta, subject to specified application and investment conditions.
Notification confers tax exemption recognition on Diocese of Calcutta for assessment years 1993 94 to 1995 96, subject to conditions: income must be applied or accumulated solely for the institution's objects; funds (other than certain voluntary contributions in kind) must be invested only in forms permitted by income tax law; and business profits are excluded unless incidental to objectives and kept in separate books of account.
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