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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Central Government Notifies Arpana Trust Under Section 10(23C)(v) for Tax Exemption, Sets Conditions for Income and Investments.</h1> The Central Government has notified Arpana Trust, Haryana under section 10(23C)(v) of the Income-tax Act, 1961, for assessment years 1997-98 to 1999-2000. The notification stipulates that the trust must apply its income exclusively to its established objectives and may only invest or deposit funds in specified forms or modes, excluding voluntary contributions maintained as assets. The notification does not apply to income from business profits unless the business is incidental to the trust's objectives, and separate accounts are maintained for such business activities.