Tax exemption under the income-tax charitable clause granted subject to application of income, investment restrictions, and compliance. Notification grants tax-exempt recognition for Joint Plant Committee, Kolkata for assessment years 2002-2003 to 2004-2005 subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments to modes permitted for charitable property (except voluntary contributions held in kind); exclude business income unless incidental with separate books; file income-tax returns regularly; and on dissolution transfer surplus and assets 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 the income-tax charitable clause granted subject to application of income, investment restrictions, and compliance.
Notification grants tax-exempt recognition for Joint Plant Committee, Kolkata for assessment years 2002-2003 to 2004-2005 subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments to modes permitted for charitable property (except voluntary contributions held in kind); exclude business income unless incidental with separate books; file income-tax returns regularly; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
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