Exemption under section 10(23) granted subject to conditions on application, investment and distribution of the association's income. Notification under Section 10(23) designates the National Rifle Association of India, Delhi as exempt for the relevant assessment years provided it applies or accumulates its income exclusively to its objects as modified by section 11, confines investments and deposits to forms specified in section 11(5), does not distribute income to members except as grants to affiliated bodies, and excludes business profits unless incidental and recorded 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.
Exemption under section 10(23) granted subject to conditions on application, investment and distribution of the association's income.
Notification under Section 10(23) designates the National Rifle Association of India, Delhi as exempt for the relevant assessment years provided it applies or accumulates its income exclusively to its objects as modified by section 11, confines investments and deposits to forms specified in section 11(5), does not distribute income to members except as grants to affiliated bodies, and excludes business profits unless incidental and recorded in separate books.
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