Exemption under section 10(23): tax-exempt status subject to rules on income application, permitted investments, distribution, and business accounting. Notification under section 10(23) grants tax-exempt treatment to the Indian Olympic Association for specified assessment years subject to conditions: income must be applied or accumulated solely for its objects per section 11 (as modified), investments must be in modes specified in section 11(5) except certain tangible voluntary contributions, income must not be distributed to members except as grants to affiliated bodies, and business profits are excluded unless incidental and maintained in separate books.
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(23): tax-exempt status subject to rules on income application, permitted investments, distribution, and business accounting.
Notification under section 10(23) grants tax-exempt treatment to the Indian Olympic Association for specified assessment years subject to conditions: income must be applied or accumulated solely for its objects per section 11 (as modified), investments must be in modes specified in section 11(5) except certain tangible voluntary contributions, income must not be distributed to members except as grants to affiliated bodies, and business profits are excluded unless incidental and maintained in separate books.
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