The Central Government notified the 'Delhi Lawn Tennis Association, New Delhi ' for the purpose of clause (23) of section 10 of the Income-tax Act. 1961 - 051/2007 - Income Tax Act, 1961
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Tax exemption notification conditions eligibility on exclusive application of income, restricted investments, and separate accounting for business activities. Notification designates the Delhi Lawn Tennis Association as eligible for exemption under clause (23) of section 10, conditioned on exclusive application or permitted accumulation of income to its objects as per sections 11(2) and 11(3), investment of funds only in modes specified by section 11(5) (except certain voluntary contributions in notified tangible forms), prohibition on distribution of income to members except as grants to affiliated bodies, and exclusion of business profits from the exemption unless incidental to objectives with separate books maintained.
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 notification conditions eligibility on exclusive application of income, restricted investments, and separate accounting for business activities.
Notification designates the Delhi Lawn Tennis Association as eligible for exemption under clause (23) of section 10, conditioned on exclusive application or permitted accumulation of income to its objects as per sections 11(2) and 11(3), investment of funds only in modes specified by section 11(5) (except certain voluntary contributions in notified tangible forms), prohibition on distribution of income to members except as grants to affiliated bodies, and exclusion of business profits from the exemption unless incidental to objectives with separate books maintained.
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