Any income received by any person on behalf of National Institute of Bank Management Mumbai exempted under Section 10 (23C)(iv) for the Assessment Years 2006-07 to 2008-09 - 318/2006 - Income Tax Act, 1961

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Charitable income exemption: receipts on behalf of National Institute of Bank Management treated as non-assessable subject to prescribed conditions. Receipts received by any person on behalf of National Institute of Bank Management, Mumbai shall not be included in that person's total income for the specified assessment years, provided the Institution applies or properly accumulates income for its objects subject to accumulation limits, invests funds only in permitted modes, treats business receipts as incidental and separately accounted, files returns regularly, and transfers surplus and assets on dissolution to a similar organization.

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Provisions expressly mentioned in the judgment/order text.

Charitable income exemption: receipts on behalf of National Institute of Bank Management treated as non-assessable subject to prescribed conditions.

Receipts received by any person on behalf of National Institute of Bank Management, Mumbai shall not be included in that person's total income for the specified assessment years, provided the Institution applies or properly accumulates income for its objects subject to accumulation limits, invests funds only in permitted modes, treats business receipts as incidental and separately accounted, files returns regularly, and transfers surplus and assets on dissolution to a similar organization.

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Any income received by any person on behalf of National Institute of Bank Management Mumbai exempted under Section 10 (23C)(iv) for the Assessment Years 2006-07 to 2008-09 - 318/2006 - Income Tax Act, 1961

Charitable income exemption: receipts on behalf of National Institute of Bank Management treated as non-assessable subject to prescribed conditions.

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Any income received by any person on behalf of National Institute of Bank Management Mumbai exempted under Section 10 (23C)(iv) for the Assessment Years 2006-07 to 2008-09 - 318/2006 - Income Tax Act, 1961

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Charitable income exemption: receipts on behalf of National Institute of Bank Management treated as non-assessable subject to prescribed conditions.

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