Tax exemption under section 10(23C)(iv): Indian Institute of Foreign Trade notified subject to specified operational conditions. Notification under section 10(23C)(iv) notifies the Indian Institute of Foreign Trade, New Delhi, for the specified assessment years subject to conditions requiring application of income wholly to institutional objects; investment of funds only in permitted forms (except voluntary contributions retained as tangible items); exclusion of business income unless incidental with separate books; regular filing of income-tax returns; and transfer of surplus and assets on dissolution 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.
Tax exemption under section 10(23C)(iv): Indian Institute of Foreign Trade notified subject to specified operational conditions.
Notification under section 10(23C)(iv) notifies the Indian Institute of Foreign Trade, New Delhi, for the specified assessment years subject to conditions requiring application of income wholly to institutional objects; investment of funds only in permitted forms (except voluntary contributions retained as tangible items); exclusion of business income unless incidental with separate books; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a similar charitable organisation.
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