Charitable exemption under section 10(23C)(v) granted subject to income application, investment limits and business incidence conditions for specified years. Notification confers status under 10(23C)(v) for assessment years 1994 95 to 1996 97 subject to conditions: income must be applied or accumulated wholly and exclusively for the institution's objects; investments or deposits are restricted to forms permitted by section 11(5) (excluding certain voluntary contributions held as jewellery or furniture); and the notification excludes business income unless incidental to objectives and 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) granted subject to income application, investment limits and business incidence conditions for specified years.
Notification confers status under 10(23C)(v) for assessment years 1994 95 to 1996 97 subject to conditions: income must be applied or accumulated wholly and exclusively for the institution's objects; investments or deposits are restricted to forms permitted by section 11(5) (excluding certain voluntary contributions held as jewellery or furniture); and the notification excludes business income unless incidental to objectives and maintained in separate books of account.
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