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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Joint Plant Committee, Kolkata recognized under Income-tax Act for 2002-2005 with specific income application and investment conditions.</h1> The Central Government has notified the 'Joint Plant Committee, Kolkata' under section 10(23C) of the Income-tax Act, 1961, applicable for the assessment years 2002-2003 to 2004-2005. The notification specifies conditions: the assessee must exclusively apply its income to its established objectives, restrict investments to specified forms, and maintain separate accounts for any incidental business activities. The assessee is required to file regular income tax returns, and upon dissolution, any surplus assets must be transferred to a charitable organization with similar objectives. This notification excludes business income unless incidental to the assessee's objectives.
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