Tax exemption under section 10(23) limited by conditions on income application, permitted investments, and distribution restrictions. Notification grants tax-exempt status under clause (23) of section 10 subject to conditions: income must be applied or accumulated exclusively for the institution's objects in conformity with the modified application and accumulation rules; funds must be invested only in permitted forms or modes; income must not be distributed to members except as grants to affiliated associations or institutions; and business income is excluded unless incidental to objectives 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 section 10(23) limited by conditions on income application, permitted investments, and distribution restrictions.
Notification grants tax-exempt status under clause (23) of section 10 subject to conditions: income must be applied or accumulated exclusively for the institution's objects in conformity with the modified application and accumulation rules; funds must be invested only in permitted forms or modes; income must not be distributed to members except as grants to affiliated associations or institutions; and business income is excluded unless incidental to objectives and maintained in separate books.
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