Tax exemption under section 10(46): specified Mysore Palace Board incomes exempted subject to non-commerciality and filing. Notification under clause (46) of section 10 grants tax exemption to Mysore Palace Board for specified receipts: income from the Palace or proceeds of vested property; fees and charges under the Mysore Palace (Acquisition and Transfer) Act forming part of the Board fund; rent from shops/stalls let to Government agencies; and interest on bank deposits. The exemption is conditional on the Board not engaging in commercial activity, maintaining unchanged activities and income character across the relevant years, and filing returns as required under the Act; the notification applies retrospectively to certain assessment years and prospectively to specified future assessment years.
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(46): specified Mysore Palace Board incomes exempted subject to non-commerciality and filing.
Notification under clause (46) of section 10 grants tax exemption to Mysore Palace Board for specified receipts: income from the Palace or proceeds of vested property; fees and charges under the Mysore Palace (Acquisition and Transfer) Act forming part of the Board fund; rent from shops/stalls let to Government agencies; and interest on bank deposits. The exemption is conditional on the Board not engaging in commercial activity, maintaining unchanged activities and income character across the relevant years, and filing returns as required under the Act; the notification applies retrospectively to certain assessment years and prospectively to specified future assessment years.
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