Tax exemption recognition: charitable institution allowed under income tax provision subject to exclusive income application and investment limits. Notification designates Guruvayur Devaswom under sub clause (v) of clause (23C) of section 10 for the specified assessment year, subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (except voluntary contributions in jewellery, furniture etc.) must be invested only in permitted modes; and the notification does not cover business profits unless the business is incidental and separately accounted.
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 recognition: charitable institution allowed under income tax provision subject to exclusive income application and investment limits.
Notification designates Guruvayur Devaswom under sub clause (v) of clause (23C) of section 10 for the specified assessment year, subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (except voluntary contributions in jewellery, furniture etc.) must be invested only in permitted modes; and the notification does not cover business profits unless the business is incidental and separately accounted.
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