Tax exemption under section 10(23) for a society subject to specified application, investment, distribution and business-accounting conditions. Notification designates the Jewaharlal Nehru Hockey Tournament Society, New Delhi, as eligible under section 10(23), subject to conditions: income must be applied or accumulated exclusively for its objects under the relevant provisions; investments are restricted to statutory modes except specified tangible forms for voluntary contributions; income may not be distributed to members except as grants to affiliated institutions; and profits and gains of business are excluded unless incidental to objectives with separate books maintained.
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 section 10(23) for a society subject to specified application, investment, distribution and business-accounting conditions.
Notification designates the Jewaharlal Nehru Hockey Tournament Society, New Delhi, as eligible under section 10(23), subject to conditions: income must be applied or accumulated exclusively for its objects under the relevant provisions; investments are restricted to statutory modes except specified tangible forms for voluntary contributions; income may not be distributed to members except as grants to affiliated institutions; and profits and gains of business are excluded unless incidental to objectives with separate books maintained.
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