Charitable tax exemption requires notified institution to apply income exclusively and follow prescribed investment modes and incidental business rules. Notification grants charitable tax exemption to Vivekananda Rock Memorial and Vivekananda Kendra, Chennai for the assessment years 1999-2000 to 2001-2002, subject to conditions: income must be applied wholly and exclusively to institutional objects; investments restricted to prescribed legal modes except certain voluntary contributions in kind; business profits excluded unless incidental and maintained in separate books; and realisation and reinvestment of share sale proceeds must be completed in prescribed modes by the compliance deadline.
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.
Charitable tax exemption requires notified institution to apply income exclusively and follow prescribed investment modes and incidental business rules.
Notification grants charitable tax exemption to Vivekananda Rock Memorial and Vivekananda Kendra, Chennai for the assessment years 1999-2000 to 2001-2002, subject to conditions: income must be applied wholly and exclusively to institutional objects; investments restricted to prescribed legal modes except certain voluntary contributions in kind; business profits excluded unless incidental and maintained in separate books; and realisation and reinvestment of share sale proceeds must be completed in prescribed modes by the compliance deadline.
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