Tax exemption recognition for a foundation granted subject to exclusive application of income, permitted investments, and business limitations. Notification recognizes Aga Khan Foundation, New Delhi as qualifying under the charitable tax provision for specified assessment years, conditional on applying or accumulating income exclusively for its objects, restricting investments and deposits to permitted forms for charitable institutions (excluding certain voluntary contributions held in kind), and excluding business income 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 recognition for a foundation granted subject to exclusive application of income, permitted investments, and business limitations.
Notification recognizes Aga Khan Foundation, New Delhi as qualifying under the charitable tax provision for specified assessment years, conditional on applying or accumulating income exclusively for its objects, restricting investments and deposits to permitted forms for charitable institutions (excluding certain voluntary contributions held in kind), and excluding business income unless incidental to objectives with separate books maintained.
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