Tax exemption under section 10(23C)(iv) recognised for Pune society, subject to income application and investment conditions. Notification grants tax-exempt status under section 10(23C)(iv) to the Society for Service to Voluntary Agencies, Pune for assessment years 1999-2000 to 2000-2001, provided the society applies or accumulates income exclusively for its objects, confines investments to modes permitted by law (excluding voluntary contributions retained as jewellery or furniture), and excludes business profits from the exemption unless such business is incidental and recorded in separate books of account.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23C)(iv) recognised for Pune society, subject to income application and investment conditions.
Notification grants tax-exempt status under section 10(23C)(iv) to the Society for Service to Voluntary Agencies, Pune for assessment years 1999-2000 to 2000-2001, provided the society applies or accumulates income exclusively for its objects, confines investments to modes permitted by law (excluding voluntary contributions retained as jewellery or furniture), and excludes business profits from the exemption unless such business is incidental and recorded in separate books of account.
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