Tax exemption under section 10(23C)(v) subjects institution to strict application, investment and accounting conditions for income. Notification designates Catholic Bishops' Conference of India, New Delhi as covered by section 10(23C)(v) for specified assessment years, conditional on applying or accumulating income wholly and exclusively for its objects; restricting investments and deposits to modes specified in section 11(5) (excluding certain voluntary contributions retained in tangible form); and excluding business income unless incidental to objectives with separate accounting.
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(23C)(v) subjects institution to strict application, investment and accounting conditions for income.
Notification designates Catholic Bishops' Conference of India, New Delhi as covered by section 10(23C)(v) for specified assessment years, conditional on applying or accumulating income wholly and exclusively for its objects; restricting investments and deposits to modes specified in section 11(5) (excluding certain voluntary contributions retained in tangible form); and excluding business income unless incidental to objectives with separate accounting.
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