Tax exemption under section 10(23C)(iv) granted subject to application of income, investment limits, and dissolution transfer. Notification under section 10(23C)(iv) recognizes the committee for specified assessment years subject to conditions: income must be applied wholly and exclusively to its objects; investments restricted to forms in section 11(5) except certain voluntary contributions; business income excluded unless incidental and separately accounted; regular filing of income-tax returns required; and on dissolution surplus and assets must transfer to a charitable organization with similar objectives.
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) granted subject to application of income, investment limits, and dissolution transfer.
Notification under section 10(23C)(iv) recognizes the committee for specified assessment years subject to conditions: income must be applied wholly and exclusively to its objects; investments restricted to forms in section 11(5) except certain voluntary contributions; business income excluded unless incidental and separately accounted; regular filing of income-tax returns required; and on dissolution surplus and assets must transfer to a charitable organization with similar objectives.
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