Income tax exemption under section 10(23) granted to sports federation, subject to application, investment and business conditions. Notification designates the Judo Federation of India as covered by section 10(23) for assessment years 1997-98 to 1999-2000, conditional on applying or accumulating income wholly and exclusively to its objects under the modified section 11 provisions; investing funds only in modes permitted by section 11(5) (with limited exceptions for certain voluntary contributions held in tangible forms); not distributing income to members except as grants to affiliated bodies; 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.
Income tax exemption under section 10(23) granted to sports federation, subject to application, investment and business conditions.
Notification designates the Judo Federation of India as covered by section 10(23) for assessment years 1997-98 to 1999-2000, conditional on applying or accumulating income wholly and exclusively to its objects under the modified section 11 provisions; investing funds only in modes permitted by section 11(5) (with limited exceptions for certain voluntary contributions held in tangible forms); not distributing income to members except as grants to affiliated bodies; and excluding business income unless incidental to objectives with separate books maintained.
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