Charitable trust exemption granted subject to compliance with income application, investment, business and dissolution conditions. Central Government notifies the Kachchi Moodoo Archakas Welfare Trust for charitable tax treatment for specified assessment years, conditioned on exclusive application or accumulation of income for the trust's objects; investment and deposit limitations to permitted forms; exclusion of business profits unless incidental and maintained in separate books; regular filing of income tax returns; and transfer of surplus and assets to a like charitable organisation on dissolution.
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 trust exemption granted subject to compliance with income application, investment, business and dissolution conditions.
Central Government notifies the Kachchi Moodoo Archakas Welfare Trust for charitable tax treatment for specified assessment years, conditioned on exclusive application or accumulation of income for the trust's objects; investment and deposit limitations to permitted forms; exclusion of business profits unless incidental and maintained in separate books; regular filing of income tax returns; and transfer of surplus and assets to a like charitable organisation on dissolution.
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