Exemption notification grants tax-exempt status to an educational institution subject to investment, accounting and dissolution conditions. Notification grants tax-exempt recognition to South Point School under section 10(23C)(vi) for specified assessment years, conditional on applying or accumulating income exclusively for its objects, restricting investments to modes in section 11(5) (with limited exceptions), converting investments into specified modes by the stated deadline, maintaining separate accounts for incidental business income, regularly filing income-tax returns, and on dissolution transferring surplus and assets to a charitable organisation with similar objectives.
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.
Exemption notification grants tax-exempt status to an educational institution subject to investment, accounting and dissolution conditions.
Notification grants tax-exempt recognition to South Point School under section 10(23C)(vi) for specified assessment years, conditional on applying or accumulating income exclusively for its objects, restricting investments to modes in section 11(5) (with limited exceptions), converting investments into specified modes by the stated deadline, maintaining separate accounts for incidental business income, regularly filing income-tax returns, and on dissolution transferring surplus and assets to a charitable organisation with similar objectives.
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