Charitable exemption notified for Sant Nirankari Mandal subject to conditions on application of income and investment modes. Notification grants Sant Nirankari Mandal, Delhi exemption under the tax provision for specified assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to institutional objects; investments and deposits are restricted to forms specified by law (excluding certain voluntary contributions held as assets); business income is excluded from the notification unless incidental and maintained in separate books; and the assessee must regularly file income tax returns in accordance with statutory provisions.
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Provisions expressly mentioned in the judgment/order text.
Charitable exemption notified for Sant Nirankari Mandal subject to conditions on application of income and investment modes.
Notification grants Sant Nirankari Mandal, Delhi exemption under the tax provision for specified assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to institutional objects; investments and deposits are restricted to forms specified by law (excluding certain voluntary contributions held as assets); business income is excluded from the notification unless incidental and maintained in separate books; and the assessee must regularly file income tax returns in accordance with statutory provisions.
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