Tax exemption notification permits income application subject to statutory investment limits and separate accounting for incidental business. Notification confers tax exemption status on the Federation of Indian Export Organisation, New Delhi, for specified assessment years subject to conditions: the assessee must apply or accumulate income wholly and exclusively for its objects; may invest funds only in modes specified by law (excluding certain voluntary contributions in kind); and the notification excludes business income except where the business is incidental to objectives and is 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 notification permits income application subject to statutory investment limits and separate accounting for incidental business.
Notification confers tax exemption status on the Federation of Indian Export Organisation, New Delhi, for specified assessment years subject to conditions: the assessee must apply or accumulate income wholly and exclusively for its objects; may invest funds only in modes specified by law (excluding certain voluntary contributions in kind); and the notification excludes business income except where the business is incidental to objectives and is maintained in separate books.
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