Exemption recognition conditioned on exclusive application of income, specified investment modes, business incidental limits and dissolution asset transfer. Notification grants tax exemption under Section 10(23C)(iv) to Bharatiya Vidya Bhawan, Mumbai for a specified assessment period subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments and deposits are limited to modes permitted by section 11(5) (excluding certain voluntary contributions held as property); business income is excluded unless incidental and maintained in separate books; regular filing of returns is required; and on dissolution surplus and assets must be transferred to a similar charitable organisation.
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.
Exemption recognition conditioned on exclusive application of income, specified investment modes, business incidental limits and dissolution asset transfer.
Notification grants tax exemption under Section 10(23C)(iv) to Bharatiya Vidya Bhawan, Mumbai for a specified assessment period subject to conditions: income must be applied or accumulated wholly and exclusively for its objects; investments and deposits are limited to modes permitted by section 11(5) (excluding certain voluntary contributions held as property); business income is excluded unless incidental and maintained in separate books; regular filing of returns is required; and on dissolution surplus and assets must be transferred to a similar charitable organisation.
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