Tax exemption under section 10(23C)(iv) granted to Joint Plant Committee, subject to investment, business and filing conditions. Notification designates the Joint Plant Committee, Calcutta, as eligible under section 10(23C)(iv) for assessment years 1996-97 to 1998-99, conditional on applying income wholly and exclusively to its objects or accumulating it for that purpose, investing funds only in modes specified in section 11(5) (with limited exceptions for certain voluntary contributions), excluding business income unless incidental with separate books, and regularly filing income-tax returns under the Act.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 10(23C)(iv) granted to Joint Plant Committee, subject to investment, business and filing conditions.
Notification designates the Joint Plant Committee, Calcutta, as eligible under section 10(23C)(iv) for assessment years 1996-97 to 1998-99, conditional on applying income wholly and exclusively to its objects or accumulating it for that purpose, investing funds only in modes specified in section 11(5) (with limited exceptions for certain voluntary contributions), excluding business income unless incidental with separate books, and regularly filing income-tax returns under the Act.
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