Tax exemption notification: Foundation Aga Khan recognised subject to exclusive income application, prescribed investments, return filing, and dissolution rules. Notification recognises Foundation Aga Khan, New Delhi under Section 10(23C)(iv) for specified assessment years subject to conditions: apply income wholly and exclusively to objects or accumulate for that purpose; restrict investments to forms allowed for charitable trusts (with limited exceptions for voluntary contributions in kind); exclude business income unless incidental and maintained in separate books; regularly file income-tax returns; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption notification: Foundation Aga Khan recognised subject to exclusive income application, prescribed investments, return filing, and dissolution rules.
Notification recognises Foundation Aga Khan, New Delhi under Section 10(23C)(iv) for specified assessment years subject to conditions: apply income wholly and exclusively to objects or accumulate for that purpose; restrict investments to forms allowed for charitable trusts (with limited exceptions for voluntary contributions in kind); exclude business income unless incidental and maintained in separate books; regularly file income-tax returns; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
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