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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Government Recognizes Sri Jagadguru Murugharajendra Bruhanmutt for Tax Exemption Under Section 10(23C)(v) for 1998-2001 Assessment Years.</h1> The Central Government, under section 10(23C)(v) of the Income-tax Act, 1961, notifies 'Sri Jagadguru Murugharajendra Bruhanmutt, Chitradurga, Karnataka' for the assessment years 1998-1999 to 2000-2001. The notification stipulates conditions: the entity must apply or accumulate its income solely for its established objectives; it cannot invest funds outside specified modes; business income is exempt only if incidental and separately accounted; it must file regular income tax returns; and, upon dissolution, surplus assets must be transferred to a similar charitable organization. This notification is detailed in Notification No. 75 of 2004, dated March 9, 2004.
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