Tax exemption notification recognises a sports federation's income as exempt subject to conditions on application, investment, distribution and business income. Notification under clause (23) of section 10 notifies the All India Football Federation, Cannanore, for specified assessment years subject to conditions: income must be applied or accumulated exclusively for its objects as per section 11 modifications; funds (other than voluntary contributions) must be invested only in forms specified in section 11(5) or in Board-notified articles under the third proviso; income cannot be distributed to members except as grants to affiliated bodies; business income is excluded from the notification unless 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 notification recognises a sports federation's income as exempt subject to conditions on application, investment, distribution and business income.
Notification under clause (23) of section 10 notifies the All India Football Federation, Cannanore, for specified assessment years subject to conditions: income must be applied or accumulated exclusively for its objects as per section 11 modifications; funds (other than voluntary contributions) must be invested only in forms specified in section 11(5) or in Board-notified articles under the third proviso; income cannot be distributed to members except as grants to affiliated bodies; business income is excluded from the notification unless incidental and separately accounted.
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