Tax exemption under charitable notification: Archery Association granted tax-exempt status subject to application, investment, distribution and business conditions. Notification treats the Archery Association of India as eligible under clause (23) of section 10 for the stated assessment years subject to conditions: income must be applied or accumulated exclusively for the association's objects in line with section 11(2) and (3) as modified; investments and deposits are limited to forms in section 11(5) except specified tangible voluntary contributions; income distribution to members is prohibited except grants to affiliated bodies; and business profits are excluded unless incidental and recorded in separate books.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption under charitable notification: Archery Association granted tax-exempt status subject to application, investment, distribution and business conditions.
Notification treats the Archery Association of India as eligible under clause (23) of section 10 for the stated assessment years subject to conditions: income must be applied or accumulated exclusively for the association's objects in line with section 11(2) and (3) as modified; investments and deposits are limited to forms in section 11(5) except specified tangible voluntary contributions; income distribution to members is prohibited except grants to affiliated bodies; and business profits are excluded unless incidental and recorded in separate books.
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