Tax exemption recognition for charitable institution subject to income application, investment limits, separate business accounting and filing obligations. Notification grants tax-exempt status to Srimadujjayini Saddharma Simhasana Sri Taralbalu Jagadguru Brihanmath for assessment years 1996-1997 to 1998-1999 under section 10(23C)(v), conditional on applying or accumulating income exclusively to its objects, limiting investments to forms permitted for charitable trusts (except certain voluntary contributions held in kind), excluding business profits unless incidental with separate books, and regular filing of returns under the Income-tax Act.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption recognition for charitable institution subject to income application, investment limits, separate business accounting and filing obligations.
Notification grants tax-exempt status to Srimadujjayini Saddharma Simhasana Sri Taralbalu Jagadguru Brihanmath for assessment years 1996-1997 to 1998-1999 under section 10(23C)(v), conditional on applying or accumulating income exclusively to its objects, limiting investments to forms permitted for charitable trusts (except certain voluntary contributions held in kind), excluding business profits unless incidental with separate books, and regular filing of returns under the Income-tax Act.
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