Charitable exemption granted: notification recognizes institution's tax exemption subject to application, investment, business and filing conditions. Notification designates the named institution as a notified charitable entity for specified assessment years, conditional on applying income wholly and exclusively to its objects; restricting investments and deposits to modes permitted for charitable trusts (except voluntary contributions held as jewellery, furniture, etc.); excluding business income unless the business is incidental and maintained in separate books; and regularly filing 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.
Charitable exemption granted: notification recognizes institution's tax exemption subject to application, investment, business and filing conditions.
Notification designates the named institution as a notified charitable entity for specified assessment years, conditional on applying income wholly and exclusively to its objects; restricting investments and deposits to modes permitted for charitable trusts (except voluntary contributions held as jewellery, furniture, etc.); excluding business income unless the business is incidental and maintained in separate books; and regularly filing returns of income in accordance with the Income-tax Act.
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