Tax exemption under section 10(23C)(v) notifies Sri Raghavendra Swamy Mutt subject to income application and investment conditions. Notification under sub-clause (v) of clause (23C) of section 10 notifies Sri Raghavendra Swamy Mutt, Mantralayam, for assessment years 1993-94 to 1995-96 subject to conditions: income must be applied or accumulated wholly and exclusively for the assessee's objects; investments or deposits must be only in forms specified in section 11(5) except voluntary contributions retained as jewellery or furniture; and profits and gains of business are excluded unless incidental to objectives and accounted for in separate books.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23C)(v) notifies Sri Raghavendra Swamy Mutt subject to income application and investment conditions.
Notification under sub-clause (v) of clause (23C) of section 10 notifies Sri Raghavendra Swamy Mutt, Mantralayam, for assessment years 1993-94 to 1995-96 subject to conditions: income must be applied or accumulated wholly and exclusively for the assessee's objects; investments or deposits must be only in forms specified in section 11(5) except voluntary contributions retained as jewellery or furniture; and profits and gains of business are excluded unless incidental to objectives and accounted for in separate books.
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