Exemption under section 10(23C)(vi) granted to St. Xavier's Education Trust subject to income application, investment and accounting conditions. Notification grants income-tax exemption under sub-clause (vi) of clause (23C) of section 10 to St. Xavier's Education Trust, Mumbai for assessment years 1999-2000 to 2001-2002 on conditions that income be applied exclusively to its objects, investments be made only in permitted modes (with limited exceptions for voluntary contributions in movable items), business income be incidental and separately accounted, regular income-tax returns be filed, surplus on dissolution be transferred to a like charitable organisation, and investments conform to permitted modes by the stated cut-off.
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Provisions expressly mentioned in the judgment/order text.
Exemption under section 10(23C)(vi) granted to St. Xavier's Education Trust subject to income application, investment and accounting conditions.
Notification grants income-tax exemption under sub-clause (vi) of clause (23C) of section 10 to St. Xavier's Education Trust, Mumbai for assessment years 1999-2000 to 2001-2002 on conditions that income be applied exclusively to its objects, investments be made only in permitted modes (with limited exceptions for voluntary contributions in movable items), business income be incidental and separately accounted, regular income-tax returns be filed, surplus on dissolution be transferred to a like charitable organisation, and investments conform to permitted modes by the stated cut-off.
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