Tax exemption for charitable organisation subject to conditions on application, investment, accounting, returns and dissolution. Notification under section 10(23C) grants tax-exempt status to The South Arcot Diocesan Corporation for specified assessment years subject to conditions: income must be applied or accumulated solely for its objects; investments are limited to forms specified in Section 11(5) except certain voluntary contributions; business income is excluded unless incidental and kept in separate books; regular filing of returns is required; and on dissolution surplus and assets must be transferred 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 for charitable organisation subject to conditions on application, investment, accounting, returns and dissolution.
Notification under section 10(23C) grants tax-exempt status to The South Arcot Diocesan Corporation for specified assessment years subject to conditions: income must be applied or accumulated solely for its objects; investments are limited to forms specified in Section 11(5) except certain voluntary contributions; business income is excluded unless incidental and kept in separate books; regular filing of returns is required; and on dissolution surplus and assets must be transferred to a charitable organisation with similar objectives.
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