Tax exemption under section 10(23C)(v) granted with conditions limiting investments and business income for specified assessment years. Notification under section 10(23C)(v) notifies the named society as qualifying for exemption for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (other than certain voluntary contributions maintained as jewellery, furniture etc.) must be invested only in permitted modes; and profits and gains of business are excluded unless incidental and maintained 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.
Tax exemption under section 10(23C)(v) granted with conditions limiting investments and business income for specified assessment years.
Notification under section 10(23C)(v) notifies the named society as qualifying for exemption for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (other than certain voluntary contributions maintained as jewellery, furniture etc.) must be invested only in permitted modes; and profits and gains of business are excluded unless incidental and maintained in separate books.
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