Tax exemption recognition: institution notified subject to exclusive use, permitted investments, business incidental and dissolution conditions. Notification grants tax-exempt status under section 10(23C)(vi) to the Modern Vidya Niketan Society, Faridabad for specified assessment years, subject to conditions: apply income wholly to its objects or accumulate for that purpose; limit investments and deposits to forms permitted by the Act (excluding voluntary contributions retained as jewellery, furniture, etc.); exclude business income except where incidental with separate books; file regular income-tax returns; and on dissolution transfer surplus and 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.
Tax exemption recognition: institution notified subject to exclusive use, permitted investments, business incidental and dissolution conditions.
Notification grants tax-exempt status under section 10(23C)(vi) to the Modern Vidya Niketan Society, Faridabad for specified assessment years, subject to conditions: apply income wholly to its objects or accumulate for that purpose; limit investments and deposits to forms permitted by the Act (excluding voluntary contributions retained as jewellery, furniture, etc.); exclude business income except where incidental with separate books; file regular income-tax returns; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
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