Exemption under section 10(23C)(iv): National Horticulture Board's income exempt for specified years subject to investment and business conditions. Notification under section 10(23C)(iv) notifies National Horticulture Board, Gurgaon for assessment years 1987-88 to 1989-90 subject to conditions: the assessee must apply or accumulate income wholly and exclusively to its objects; investments or deposits of funds during the relevant previous years are restricted to permitted forms or modes (excluding certain voluntary contributions held as tangible items); and the notification does not apply to profits and gains of business unless the business is incidental and separate books are maintained.
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(23C)(iv): National Horticulture Board's income exempt for specified years subject to investment and business conditions.
Notification under section 10(23C)(iv) notifies National Horticulture Board, Gurgaon for assessment years 1987-88 to 1989-90 subject to conditions: the assessee must apply or accumulate income wholly and exclusively to its objects; investments or deposits of funds during the relevant previous years are restricted to permitted forms or modes (excluding certain voluntary contributions held as tangible items); and the notification does not apply to profits and gains of business unless the business is incidental and separate books are maintained.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
