Income tax exemption notification: charitable institution granted conditional exemption subject to exclusive application, investment limits, and separate business accounts. Notification under the 10(23C)(v) provision designates Gurudwara Bara Sikh Sangat, Calcutta as eligible for exemption for specified assessment years, contingent on applying or accumulating income exclusively for its objects, restricting investments to modes specified for charitable trusts (with limited retention of voluntary contributions as jewellery or furniture), and excluding business profits unless the business is incidental and separately accounted for.
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.
Income tax exemption notification: charitable institution granted conditional exemption subject to exclusive application, investment limits, and separate business accounts.
Notification under the 10(23C)(v) provision designates Gurudwara Bara Sikh Sangat, Calcutta as eligible for exemption for specified assessment years, contingent on applying or accumulating income exclusively for its objects, restricting investments to modes specified for charitable trusts (with limited retention of voluntary contributions as jewellery or furniture), and excluding business profits unless the business is incidental and separately accounted for.
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