Tax exemption under section 10(23C)(v) granted subject to application of income, permitted investments, accounting and dissolution conditions. Notification grants section 10(23C)(v) exemption to Asthika Samaj for assessment years 1993-94 to 1995-96 subject to conditions: income must be applied or accumulated wholly for the organisation's objects; investments limited to modes permitted under the Income-tax Act (excluding voluntary contributions held in kind); business income excluded unless incidental and accounted separately; regular filing of returns required; on dissolution surplus and assets must transfer 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.
Tax exemption under section 10(23C)(v) granted subject to application of income, permitted investments, accounting and dissolution conditions.
Notification grants section 10(23C)(v) exemption to Asthika Samaj for assessment years 1993-94 to 1995-96 subject to conditions: income must be applied or accumulated wholly for the organisation's objects; investments limited to modes permitted under the Income-tax Act (excluding voluntary contributions held in kind); business income excluded unless incidental and accounted separately; regular filing of returns required; on dissolution surplus and assets must transfer to a charitable organisation with similar objectives.
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