Charitable exemption under section 10(23C)(iv) granted to Bharat Bhavan Trust subject to specified compliance conditions. Notification under section 10(23C)(iv) notifies Bharat Bhavan Trust as eligible for exemption for the stated assessment years provided the trust applies or accumulates income wholly and exclusively to its objects, confines investments to forms permitted under section 11(5), treats business income as incidental only if separate books are kept, files returns regularly, and on dissolution transfers surplus assets to a charitable organisation with similar objectives.
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.
Charitable exemption under section 10(23C)(iv) granted to Bharat Bhavan Trust subject to specified compliance conditions.
Notification under section 10(23C)(iv) notifies Bharat Bhavan Trust as eligible for exemption for the stated assessment years provided the trust applies or accumulates income wholly and exclusively to its objects, confines investments to forms permitted under section 11(5), treats business income as incidental only if separate books are kept, files returns regularly, and on dissolution transfers surplus assets to a charitable organisation with similar objectives.
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