Tax exemption under clause 10(23C)(v) granted to a religious trust, subject to income application, investment limits, business exception, and filing compliance. Notification designates Shri Arasuri Ambaji Mataji Devasthan Trust as eligible for tax exemption under clause (v) of 10(23C) for the specified assessment years, subject to conditions: apply income wholly to its objects or accumulate for that purpose; limit investments and deposits to permitted modes (excluding certain voluntary contributions retained as jewellery or furniture); exclude business profits unless incidental and maintained in separate books; and regularly file income-tax returns in accordance with the Act.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under clause 10(23C)(v) granted to a religious trust, subject to income application, investment limits, business exception, and filing compliance.
Notification designates Shri Arasuri Ambaji Mataji Devasthan Trust as eligible for tax exemption under clause (v) of 10(23C) for the specified assessment years, subject to conditions: apply income wholly to its objects or accumulate for that purpose; limit investments and deposits to permitted modes (excluding certain voluntary contributions retained as jewellery or furniture); exclude business profits unless incidental and maintained in separate books; and regularly file income-tax returns in accordance with the Act.
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