Tax exemption under clause 23C(v) granted to a religious trust, subject to income application and investment conditions. Central Government notifies tax exemption under clause (23C)(v) for 'Shri Jain Swetamber Nakoda Parswanath Tirth, Mewanagar (Rajasthan)' for the specified assessment years, subject to conditions: (i) income must be applied or accumulated wholly and exclusively to the institution's objects; (ii) funds (other than voluntary contributions retained as jewellery, furniture, etc.) must be invested only in forms permitted for application-period funds; and (iii) exemption excludes business income unless incidental to objects 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.
Tax exemption under clause 23C(v) granted to a religious trust, subject to income application and investment conditions.
Central Government notifies tax exemption under clause (23C)(v) for "Shri Jain Swetamber Nakoda Parswanath Tirth, Mewanagar (Rajasthan)" for the specified assessment years, subject to conditions: (i) income must be applied or accumulated wholly and exclusively to the institution's objects; (ii) funds (other than voluntary contributions retained as jewellery, furniture, etc.) must be invested only in forms permitted for application-period funds; and (iii) exemption excludes business income unless incidental to objects and maintained in separate books.
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