Tax exemption under section 10(23C)(v) granted subject to exclusive application of income and investment restrictions. Shree Jain Swetamber Nakoda Paraswanth Tirth is notified for tax-exempt status under the charitable provision for assessment years 1993-94 to 1995-96, subject to conditions: income must be applied or accumulated wholly and exclusively for the objects of the assessee; investments or deposits of funds during the relevant previous years must be only in the forms or modes permitted by statute (excluding certain tangible voluntary contributions); and the notification does not apply to business income unless the business is incidental and separate books 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.
Tax exemption under section 10(23C)(v) granted subject to exclusive application of income and investment restrictions.
Shree Jain Swetamber Nakoda Paraswanth Tirth is notified for tax-exempt status under the charitable provision for assessment years 1993-94 to 1995-96, subject to conditions: income must be applied or accumulated wholly and exclusively for the objects of the assessee; investments or deposits of funds during the relevant previous years must be only in the forms or modes permitted by statute (excluding certain tangible voluntary contributions); and the notification does not apply to business income unless the business is incidental and separate books are maintained.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
