Section 10(23) exemption: Haryana Cricket Association notified subject to conditions on income application, investments, distributions, and business income. Notifies the Haryana Cricket Association, Bhiwani, as entitled to a statutory exemption under clause (23) of section 10 for assessment years 1999-2000 and 2000-2001, provided it applies or accumulates income exclusively to its objects in accordance with section 11 as modified, confines investments to permitted forms, does not distribute income to members except as grants to affiliated institutions, and excludes business profits unless incidental and maintained in separate books.
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Section 10(23) exemption: Haryana Cricket Association notified subject to conditions on income application, investments, distributions, and business income.
Notifies the Haryana Cricket Association, Bhiwani, as entitled to a statutory exemption under clause (23) of section 10 for assessment years 1999-2000 and 2000-2001, provided it applies or accumulates income exclusively to its objects in accordance with section 11 as modified, confines investments to permitted forms, does not distribute income to members except as grants to affiliated institutions, and excludes business profits unless incidental and maintained in separate books.
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