Tax exemption recognition: Archery Association granted notification under section 10(23) subject to application, investment, and distribution conditions. Notification recognises the Archery Association of India under section 10(23) for assessment years 1992-93 to 1994-95, subject to conditions: exclusive application or permitted accumulation of income for its objects; investments only in forms specified by section 11(5) (with limited exceptions for certain tangible voluntary contributions); prohibition on distribution of income to members except grants to affiliated bodies; and exclusion of business income unless incidental and maintained in separate accounts.
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 recognition: Archery Association granted notification under section 10(23) subject to application, investment, and distribution conditions.
Notification recognises the Archery Association of India under section 10(23) for assessment years 1992-93 to 1994-95, subject to conditions: exclusive application or permitted accumulation of income for its objects; investments only in forms specified by section 11(5) (with limited exceptions for certain tangible voluntary contributions); prohibition on distribution of income to members except grants to affiliated bodies; and exclusion of business income unless incidental and maintained in separate accounts.
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