Tax exemption for association conditioned on exclusive income use, prescribed investments, limited distributions, and separate business accounts. Notification grants exemption to the assessee under clause (23) of section 10 for assessment years 1990-91 to 1992-93, conditional on: exclusive application or permitted accumulation of income in line with section 11 provisions as modified; investment or deposit only in forms/modes specified by section 11(5) except certain tangible voluntary contributions; prohibition on distributing income to members except grants to affiliated bodies; and exclusion of business profits unless incidental to objectives with separate accounting.
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 for association conditioned on exclusive income use, prescribed investments, limited distributions, and separate business accounts.
Notification grants exemption to the assessee under clause (23) of section 10 for assessment years 1990-91 to 1992-93, conditional on: exclusive application or permitted accumulation of income in line with section 11 provisions as modified; investment or deposit only in forms/modes specified by section 11(5) except certain tangible voluntary contributions; prohibition on distributing income to members except grants to affiliated bodies; and exclusion of business profits unless incidental to objectives with separate accounting.
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