Approval under section 10(23C)(vi) grants conditional tax-exempt status subject to application, investment and accounting requirements. Approval under section 10(23C)(vi) is accorded to Tilonia Shodh Evam - Vikas Sansthan for assessment years 2007-08 onwards, subject to conditions: income must be applied or accumulated solely for institutional objects; investments must be in permitted forms; business income is excluded unless incidental and maintained in separate books; regular filing of income-tax returns is required; and on dissolution surplus and assets must pass to a similar charitable organization. The notification applies only to receipts of income on behalf of the assessee and does not determine taxability of other receipts.
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.
Approval under section 10(23C)(vi) grants conditional tax-exempt status subject to application, investment and accounting requirements.
Approval under section 10(23C)(vi) is accorded to Tilonia Shodh Evam - Vikas Sansthan for assessment years 2007-08 onwards, subject to conditions: income must be applied or accumulated solely for institutional objects; investments must be in permitted forms; business income is excluded unless incidental and maintained in separate books; regular filing of income-tax returns is required; and on dissolution surplus and assets must pass to a similar charitable organization. The notification applies only to receipts of income on behalf of the assessee and does not determine taxability of other receipts.
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