Exemption under section 10(23C)(vi) subject to charitable application, permitted investment modes, and compliance obligations. Notification grants tax-exempt status under section 10(23C)(vi) to South Point School for the specified assessment years, conditional on application of income exclusively to its objectives; restricting investments to modes specified in section 11(5) (with limited exceptions for voluntary contributions held as jewellery or furniture); excluding business income unless incidental with separate accounts; regular filing of returns; transfer of surplus on dissolution to a like charitable organisation; and conversion of investments into permitted modes by the undertaking date.
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 under section 10(23C)(vi) subject to charitable application, permitted investment modes, and compliance obligations.
Notification grants tax-exempt status under section 10(23C)(vi) to South Point School for the specified assessment years, conditional on application of income exclusively to its objectives; restricting investments to modes specified in section 11(5) (with limited exceptions for voluntary contributions held as jewellery or furniture); excluding business income unless incidental with separate accounts; regular filing of returns; transfer of surplus on dissolution to a like charitable organisation; and conversion of investments into permitted modes by the undertaking date.
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