Tax exemption under section 10(23) granted with conditions on income application, permitted investments, distributions, and incidental business income. Designation grants the Ratnagiri Zilla Bridge Association tax exemption under section 10(23) for specified assessment years, conditional on applying or accumulating income exclusively for its objects as modified by clause (23), limiting investments to modes in section 11(5) (with exceptions for certain tangible voluntary contributions), prohibiting distribution of income to members except by grants to affiliated institutions, and excluding business profits unless incidental and 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 under section 10(23) granted with conditions on income application, permitted investments, distributions, and incidental business income.
Designation grants the Ratnagiri Zilla Bridge Association tax exemption under section 10(23) for specified assessment years, conditional on applying or accumulating income exclusively for its objects as modified by clause (23), limiting investments to modes in section 11(5) (with exceptions for certain tangible voluntary contributions), prohibiting distribution of income to members except by grants to affiliated institutions, and excluding business profits unless incidental and maintained in separate books.
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