Notification under section 10(23C)(v): exemption granted to a society subject to application and investment conditions. Notification declares The Institute of the Franciscan Missionaries of Mary, Society No. 13, Nilgiris entitled to the specified charitable exemption for assessment years 1990-91 to 1992-93, subject to conditions that income be applied or accumulated exclusively for its objects; investments and deposits (other than certain voluntary contributions in kind) be limited to prescribed modes; and business income is excluded unless incidental to objectives with separate books maintained.
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Provisions expressly mentioned in the judgment/order text.
Notification under section 10(23C)(v): exemption granted to a society subject to application and investment conditions.
Notification declares The Institute of the Franciscan Missionaries of Mary, Society No. 13, Nilgiris entitled to the specified charitable exemption for assessment years 1990-91 to 1992-93, subject to conditions that income be applied or accumulated exclusively for its objects; investments and deposits (other than certain voluntary contributions in kind) be limited to prescribed modes; and business income is excluded unless incidental to objectives with separate books maintained.
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