Notification under section 10(23C)(v): tax exempt status granted to religious trust subject to application, investment, and business conditions. Notification under section 10(23C)(v) notifies Shri Sai Baba Sansthan, Shirdi as eligible for that sub clause for the assessment years specified, subject to conditions requiring that income be applied or accumulated exclusively for the assessee's objects; investments be restricted to forms permitted by the Act (with an exception for certain voluntary contributions maintained as jewellery, furniture, etc.); and that business income is excluded unless the business is incidental and accounted for in separate books.
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.
Notification under section 10(23C)(v): tax exempt status granted to religious trust subject to application, investment, and business conditions.
Notification under section 10(23C)(v) notifies Shri Sai Baba Sansthan, Shirdi as eligible for that sub clause for the assessment years specified, subject to conditions requiring that income be applied or accumulated exclusively for the assessee's objects; investments be restricted to forms permitted by the Act (with an exception for certain voluntary contributions maintained as jewellery, furniture, etc.); and that business income is excluded unless the business is incidental and accounted for in separate books.
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 
