Charitable exemption recognition conditioned on exclusive application of income and prescribed investment and accounting limits. Notification recognizes Shri Durgiana Committee for specified assessment years subject to conditions: income must be applied or accumulated solely for its objects; funds may not be invested or deposited except in the prescribed forms for charitable trusts (voluntary contributions held as jewellery, furniture, etc., excepted); and income from business is excluded unless the business is incidental to the objectives and separate books of account are maintained.
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 recognition conditioned on exclusive application of income and prescribed investment and accounting limits.
Notification recognizes Shri Durgiana Committee for specified assessment years subject to conditions: income must be applied or accumulated solely for its objects; funds may not be invested or deposited except in the prescribed forms for charitable trusts (voluntary contributions held as jewellery, furniture, etc., excepted); and income from business is excluded unless the business is incidental to the objectives and separate books of account are maintained.
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