Tax exemption under section 10(23C)(iv) granted to a memorial trust, subject to application, investment and compliance conditions. Notification under section 10(23C)(iv) notifies the Indira Gandhi Memorial Trust for specified assessment years subject to conditions: apply or accumulate income wholly and exclusively to its objects; invest funds only in permitted forms (excluding certain voluntary contributions held as jewellery, furniture, etc.); exclude business income unless incidental to objectives with separate books maintained; and regularly file returns of income in accordance with the Income-tax Act.
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) granted to a memorial trust, subject to application, investment and compliance conditions.
Notification under section 10(23C)(iv) notifies the Indira Gandhi Memorial Trust for specified assessment years subject to conditions: apply or accumulate income wholly and exclusively to its objects; invest funds only in permitted forms (excluding certain voluntary contributions held as jewellery, furniture, etc.); exclude business income unless incidental to objectives with separate books maintained; and regularly file returns of income in accordance with the Income-tax Act.
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