Charitable exemption recognition confirms institutional tax exemption for notified society subject to operational and recordkeeping conditions. Central Government notifies Saint Lawrence Education Society, Mumbai, for charitable tax exemption for the specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; investments limited to statutory forms (except voluntary contributions retained as jewellery or furniture); business income excluded unless incidental and kept in separate books; regular filing of income-tax returns; and on dissolution surplus and assets to be transferred to a similar charitable organisation.
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 recognition confirms institutional tax exemption for notified society subject to operational and recordkeeping conditions.
Central Government notifies Saint Lawrence Education Society, Mumbai, for charitable tax exemption for the specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; investments limited to statutory forms (except voluntary contributions retained as jewellery or furniture); business income excluded unless incidental and kept in separate books; regular filing of income-tax returns; and on dissolution surplus and assets to be transferred to a similar charitable organisation.
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