Charitable exemption under section 10(23C)(iv) granted to Asiatic Society subject to specified compliance and operational conditions. Notification grants charitable income-tax exemption to The Asiatic Society of Bombay for specified assessment years conditional on exclusive application or accumulation of income for its objects, investment only in permitted forms, regular filing of income-tax returns, exclusion of business profits unless incidental with separate books, and transfer of surplus and assets to a similar charitable organization on dissolution.
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.
Charitable exemption under section 10(23C)(iv) granted to Asiatic Society subject to specified compliance and operational conditions.
Notification grants charitable income-tax exemption to The Asiatic Society of Bombay for specified assessment years conditional on exclusive application or accumulation of income for its objects, investment only in permitted forms, regular filing of income-tax returns, exclusion of business profits unless incidental with separate books, and transfer of surplus and assets to a similar charitable organization on dissolution.
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