Tax exemption under section 10(23C): trust notified subject to application of income, permitted investments, separate business accounts, and returns. Notification under section 10(23C) notifies Shri Sachiya Mata Trust as a charitable institution for assessment year 2001-2002, conditional on application or accumulation of income wholly for its objects; investment or deposit of funds only in modes permitted by the statute (except certain voluntary contributions kept as jewellery or furniture); exclusion of business income unless incidental and separately accounted; regular filing of income-tax returns; and transfer of 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 under section 10(23C): trust notified subject to application of income, permitted investments, separate business accounts, and returns.
Notification under section 10(23C) notifies Shri Sachiya Mata Trust as a charitable institution for assessment year 2001-2002, conditional on application or accumulation of income wholly for its objects; investment or deposit of funds only in modes permitted by the statute (except certain voluntary contributions kept as jewellery or furniture); exclusion of business income unless incidental and separately accounted; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a charitable organisation with similar objectives.
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