Charitable status notification grants tax-exempt recognition subject to exclusive application of income and permitted investments. Notification grants conditional tax-exempt recognition to the Organization of Pharmaceutical Producers of India, Mumbai for specified assessment years, requiring that the organization apply its income wholly and exclusively to its objects or accumulate only for that purpose; restrict investments and deposits to permitted forms (excluding certain voluntary contributions held as jewellery, furniture, etc.); and disallow the notification for profits and gains of business unless the business is incidental to its objectives 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 notification grants tax-exempt recognition subject to exclusive application of income and permitted investments.
Notification grants conditional tax-exempt recognition to the Organization of Pharmaceutical Producers of India, Mumbai for specified assessment years, requiring that the organization apply its income wholly and exclusively to its objects or accumulate only for that purpose; restrict investments and deposits to permitted forms (excluding certain voluntary contributions held as jewellery, furniture, etc.); and disallow the notification for profits and gains of business unless the business is incidental to its objectives and maintained in separate books.
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