Tax exemption notification requires exclusive application of income, restricted investments, incidental-business rule, and regular tax filing. Central Government notifies the National Centre for Trade Information under section 10(23C)(iv) for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments are restricted to forms/modes specified in section 11(5) (excluding certain voluntary contributions held as jewellery or furniture); business income qualifies only if incidental with separate books maintained; and the assessee must regularly file income-tax returns.
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.
Tax exemption notification requires exclusive application of income, restricted investments, incidental-business rule, and regular tax filing.
Central Government notifies the National Centre for Trade Information under section 10(23C)(iv) for specified assessment years subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments are restricted to forms/modes specified in section 11(5) (excluding certain voluntary contributions held as jewellery or furniture); business income qualifies only if incidental with separate books maintained; and the assessee must regularly file income-tax returns.
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