Tax exemption under section 10(23)(iv) conditioned on exclusive application of income, permitted investments, and dissolution transfer. Notification grants the Agri Horticultural Society of India, Calcutta tax exempt status under the Income tax Act provision for notified charitable entities for the specified assessment years, conditional on exclusive application or accumulation of income for its objects; investment and deposit limits to prescribed forms; exclusion of business profits unless incidental and separately accounted; regular filing of returns; and transfer of surplus and assets to a like charitable organisation on dissolution.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23)(iv) conditioned on exclusive application of income, permitted investments, and dissolution transfer.
Notification grants the Agri Horticultural Society of India, Calcutta tax exempt status under the Income tax Act provision for notified charitable entities for the specified assessment years, conditional on exclusive application or accumulation of income for its objects; investment and deposit limits to prescribed forms; exclusion of business profits unless incidental and separately accounted; regular filing of returns; and transfer of surplus and assets to a like charitable organisation on dissolution.
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