Tax-exempt notification grants a trust conditional exemption requiring exclusive application of income and specified investment restrictions. Central Government notifies J.R.D. Tata Trust under sub-clause (iv) of clause (23C) of section 10 for the assessment years 1999-99, 1999-2000 and 2000-2001, subject to conditions: the trust must apply or accumulate income wholly and exclusively to its objects; must not invest or deposit funds except in forms specified in sub-section (5) of section 11 (excluding voluntary contributions in jewellery, furniture, etc.); and the notification excludes business profits 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.
Tax-exempt notification grants a trust conditional exemption requiring exclusive application of income and specified investment restrictions.
Central Government notifies J.R.D. Tata Trust under sub-clause (iv) of clause (23C) of section 10 for the assessment years 1999-99, 1999-2000 and 2000-2001, subject to conditions: the trust must apply or accumulate income wholly and exclusively to its objects; must not invest or deposit funds except in forms specified in sub-section (5) of section 11 (excluding voluntary contributions in jewellery, furniture, etc.); and the notification excludes business profits unless the business is incidental and separate books are maintained.
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