Tax exemption recognition for All India Management Association subject to income application, investment, business and dissolution conditions. Notification under section 10(23C)(vi) notifies the All India Management Association as entitled to tax-exempt status for assessment years 1999-2000 to 2001-2002, conditioned on applying income wholly and exclusively to its objects or accumulating for that purpose; restricting investments to modes in sub-section (5) of section 11 (excluding certain tangible voluntary contributions); excluding business income unless incidental with separate books; regular filing of income-tax returns; and transfer of surplus assets on dissolution to a like charitable organisation.
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 for All India Management Association subject to income application, investment, business and dissolution conditions.
Notification under section 10(23C)(vi) notifies the All India Management Association as entitled to tax-exempt status for assessment years 1999-2000 to 2001-2002, conditioned on applying income wholly and exclusively to its objects or accumulating for that purpose; restricting investments to modes in sub-section (5) of section 11 (excluding certain tangible voluntary contributions); excluding business income unless incidental with separate books; regular filing of income-tax returns; and transfer of surplus assets on dissolution to a like charitable organisation.
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