Tax exemption under section 10(23C)(iv): notified organisation must apply income to objects, maintain accounts, and transfer assets on dissolution. Notification under section 10(23C)(iv) recognizes Bengal Social Services League, Kolkata for the stated assessment years provided it applies its income wholly and exclusively to its objects, restricts investments to forms specified for charitable funds, treats business income as incidental only when separate books are maintained, files regular income-tax returns, and on dissolution transfers surplus assets to a like charitable organization.
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(23C)(iv): notified organisation must apply income to objects, maintain accounts, and transfer assets on dissolution.
Notification under section 10(23C)(iv) recognizes Bengal Social Services League, Kolkata for the stated assessment years provided it applies its income wholly and exclusively to its objects, restricts investments to forms specified for charitable funds, treats business income as incidental only when separate books are maintained, files regular income-tax returns, and on dissolution transfers surplus assets to a like charitable organization.
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