Tax exemption under section provision granted conditionally to a sports federation subject to application and investment limits. The Central Government notifies the Federation of Motor Sports Club of India, Madras, under clause (23) of section 10 for assessment years 1995-96 to 1997-98, conditioned on application or accumulation of income in conformity with subsections (2) and (3) of section 11 as modified by clause (23), limitation to prescribed modes of investment or deposit (with specified exceptions for certain voluntary contributions), prohibition on distributing income to members except as grants to affiliated bodies, and non-application to business profits unless incidental to objects with separate books 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 provision granted conditionally to a sports federation subject to application and investment limits.
The Central Government notifies the Federation of Motor Sports Club of India, Madras, under clause (23) of section 10 for assessment years 1995-96 to 1997-98, conditioned on application or accumulation of income in conformity with subsections (2) and (3) of section 11 as modified by clause (23), limitation to prescribed modes of investment or deposit (with specified exceptions for certain voluntary contributions), prohibition on distributing income to members except as grants to affiliated bodies, and non-application to business profits unless incidental to objects with separate books maintained.
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