Charitable status recognition: Institute of Rail Transport granted tax exemption conditioned on exclusive application of income and specified investments. Notification grants tax-exemption recognition to the Institute of Rail Transport, New Delhi for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to institutional objects; investments or deposits are restricted to forms permitted by the statute (excluding retained voluntary contributions in jewellery, furniture, etc.); and the notification does not cover business profits unless the business is 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.
Charitable status recognition: Institute of Rail Transport granted tax exemption conditioned on exclusive application of income and specified investments.
Notification grants tax-exemption recognition to the Institute of Rail Transport, New Delhi for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to institutional objects; investments or deposits are restricted to forms permitted by the statute (excluding retained voluntary contributions in jewellery, furniture, etc.); and the notification does not cover business profits unless the business is incidental and maintained in separate books.
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