Tax exemption under section 10(23C)(iv) conditioned on exclusive application of income and restricted investments and separate books for incidental business. Notification designates the Society for Promotion of Waste Lands Development as eligible under section 10(23C)(iv) subject to conditions: income must be applied or accumulated exclusively for the society's objects; investments must conform to forms permitted by section 11(5) except certain voluntary contributions retained as jewellery or furniture; and business profits are excluded unless the business is incidental and maintained with separate books of account.
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)(iv) conditioned on exclusive application of income and restricted investments and separate books for incidental business.
Notification designates the Society for Promotion of Waste Lands Development as eligible under section 10(23C)(iv) subject to conditions: income must be applied or accumulated exclusively for the society's objects; investments must conform to forms permitted by section 11(5) except certain voluntary contributions retained as jewellery or furniture; and business profits are excluded unless the business is incidental and maintained with separate books of account.
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