Charitable exemption notification limits investment and requires exclusive application of income and regular returns for notified religious institution. Notification designates Shri Rani Satiji Mandir, Calcutta as a notified entity under section 10(23C)(v) for specified assessment years on conditions that its income be applied or accumulated exclusively for its objects; investments be limited to the forms or modes specified for charitable trusts (excluding certain voluntary contributions held as jewellery or furniture); business income be excluded unless incidental and maintained in separate books; and returns of income be regularly filed as required by the Income-tax Act.
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 exemption notification limits investment and requires exclusive application of income and regular returns for notified religious institution.
Notification designates Shri Rani Satiji Mandir, Calcutta as a notified entity under section 10(23C)(v) for specified assessment years on conditions that its income be applied or accumulated exclusively for its objects; investments be limited to the forms or modes specified for charitable trusts (excluding certain voluntary contributions held as jewellery or furniture); business income be excluded unless incidental and maintained in separate books; and returns of income be regularly filed as required by the Income-tax Act.
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