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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Income of Arya Vaidya Sala exempt from tax under Section 10(23C)(iv) for 2004-2007, subject to conditions.</h1> The Central Government has issued Notification No. 136/2006, dated 9-6-2006, exempting any income received on behalf of Arya Vaidya Sala, Kattakkal, from being included in the total income for assessment years 2004-2005 to 2006-2007 under Section 10(23C)(iv) of the Income-tax Act, 1961. The exemption is conditional upon the institution applying its income exclusively for its objectives, maintaining specific investment practices, filing regular income tax returns, and ensuring that any surplus upon dissolution is allocated to a similar organization. This exemption does not apply to business profits unless they are incidental to the institution's objectives.