Tax exemption notification requires exclusive application of fund income, permitted investments, separate business accounts and return filing. The Chief Minister's Relief Fund, Mumbai is notified under section 10(23C) for assessment years 2002-2003 to 2004-2005 subject to conditions: apply or accumulate income exclusively for its objects; restrict investments to modes permitted by section 11(5) (except specified voluntary contributions in kind); exclude business income unless incidental and separately accounted for; file income-tax returns regularly; and on dissolution transfer surplus and assets to a charity 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 notification requires exclusive application of fund income, permitted investments, separate business accounts and return filing.
The Chief Minister's Relief Fund, Mumbai is notified under section 10(23C) for assessment years 2002-2003 to 2004-2005 subject to conditions: apply or accumulate income exclusively for its objects; restrict investments to modes permitted by section 11(5) (except specified voluntary contributions in kind); exclude business income unless incidental and separately accounted for; file income-tax returns regularly; and on dissolution transfer surplus and assets to a charity with similar objectives.
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