Tax exemption recognition under section 10(23C) granted to a trust subject to income use, investment, business and dissolution conditions. Recognition under section 10(23C) is extended to Shri Sachiya Mata Trust for assessment years 1995-1996 to 1997-1998 provided the trust applies or accumulates its income wholly and exclusively for its objects, confines investments and deposits to permitted modes (with limited treatment for voluntary contributions in kind), treats business income as excluded unless incidental with separate books, files income-tax returns regularly, and transfers surplus and assets on dissolution to a charitable organisation 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 recognition under section 10(23C) granted to a trust subject to income use, investment, business and dissolution conditions.
Recognition under section 10(23C) is extended to Shri Sachiya Mata Trust for assessment years 1995-1996 to 1997-1998 provided the trust applies or accumulates its income wholly and exclusively for its objects, confines investments and deposits to permitted modes (with limited treatment for voluntary contributions in kind), treats business income as excluded unless incidental with separate books, files income-tax returns regularly, and transfers surplus and assets on dissolution to a charitable organisation with similar objectives.
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