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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Brihanmumbai Kreeda Ani Lalitkala Pratisthan notified under Section 10(23) of Income-tax Act for specific assessment years.</h1> The Central Government has notified the Brihanmumbai Kreeda Ani Lalitkala Pratisthan, Mumbai under section 10(23) of the Income-tax Act, 1961, for assessment years 1999-2000 and 2000-2001. The notification stipulates that the assessee must apply or accumulate its income exclusively for its established objectives, refrain from investing funds in unauthorized forms, not distribute income to members except as grants to affiliated entities, and ensure that any business income is incidental to its objectives with separate accounts maintained. This notification excludes profits and gains from business unless they meet these conditions.