Tax exemption for Durand Football Tournament Society under section 10(23) subject to income application and investment restrictions. Notification grants tax exemption under clause (23) of section 10 to Durand Football Tournament Society for assessment years 1994-95 to 1996-97, conditional on applying or accumulating income per section 11(2) and (3) as modified; restricting investments to forms in section 11(5) except notified in-kind voluntary contributions; prohibiting distribution of income to members except grants to affiliated bodies; and excluding business income unless incidental and maintained in separate books.
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Tax exemption for Durand Football Tournament Society under section 10(23) subject to income application and investment restrictions.
Notification grants tax exemption under clause (23) of section 10 to Durand Football Tournament Society for assessment years 1994-95 to 1996-97, conditional on applying or accumulating income per section 11(2) and (3) as modified; restricting investments to forms in section 11(5) except notified in-kind voluntary contributions; prohibiting distribution of income to members except grants to affiliated bodies; and excluding business income unless incidental and maintained in separate books.
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