Tax exemption under section 10(23C)(iv) granted to National Horticulture Board, subject to income application and investment conditions. Notification under sub-clause (iv) of clause (23C) of section 10 notifies National Horticulture Board, Gurgaon for the specified assessment years, conditioned on application or accumulation of income wholly and exclusively to its objects; restriction of investments or deposits to forms permitted for charitable income (excluding certain voluntary contributions held as personal articles); and exclusion of business income unless the business is incidental and maintained in separate books.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23C)(iv) granted to National Horticulture Board, subject to income application and investment conditions.
Notification under sub-clause (iv) of clause (23C) of section 10 notifies National Horticulture Board, Gurgaon for the specified assessment years, conditioned on application or accumulation of income wholly and exclusively to its objects; restriction of investments or deposits to forms permitted for charitable income (excluding certain voluntary contributions held as personal articles); and exclusion of business income unless the business is incidental and maintained in separate books.
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