Tax exemption for notified association: conditional relief subject to proper application of income, permitted investments, and no member distributions. Notification grants tax exemption to the Haryana Cricket Association, Bhiwani, under clause (23) of section 10 for specified assessment years subject to conditions: income must be applied or accumulated solely for the association's objects in line with section 11 as modified; investments and deposits are limited to permitted modes with restricted holding of voluntary contributions in notified forms; income distribution to members is prohibited except as grants to affiliated bodies; business income is excluded unless incidental and separately accounted.
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Tax exemption for notified association: conditional relief subject to proper application of income, permitted investments, and no member distributions.
Notification grants tax exemption to the Haryana Cricket Association, Bhiwani, under clause (23) of section 10 for specified assessment years subject to conditions: income must be applied or accumulated solely for the association's objects in line with section 11 as modified; investments and deposits are limited to permitted modes with restricted holding of voluntary contributions in notified forms; income distribution to members is prohibited except as grants to affiliated bodies; business income is excluded unless incidental and separately accounted.
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