Tax exemption under section 10(23) granted to Church trust, subject to income application, investment, distribution and business conditions. Notification grants tax exemption under section 10(23) to The Church of South India Trust Association, Chennai for assessment years 1998-99 to 2000-2001, conditioned on applying or accumulating income solely for its objects consistent with sections 11(2) and 11(3) as modified by clause (23); restricting investments to modes in section 11(5) except specified tangible voluntary contributions; prohibiting distribution of income to members except as grants to affiliated bodies; and excluding business profits 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) granted to Church trust, subject to income application, investment, distribution and business conditions.
Notification grants tax exemption under section 10(23) to The Church of South India Trust Association, Chennai for assessment years 1998-99 to 2000-2001, conditioned on applying or accumulating income solely for its objects consistent with sections 11(2) and 11(3) as modified by clause (23); restricting investments to modes in section 11(5) except specified tangible voluntary contributions; prohibiting distribution of income to members except as grants to affiliated bodies; and excluding business profits unless incidental to objectives with separate books maintained.
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