Tax exemption under section 10(23C)(v) granted subject to exclusive application of income and specified investment, business and dissolution conditions. Notification grants tax exemption under section 10(23C)(v) to the Nanded Sikh Gurudwara for assessment years 2000-2001 to 2002-2003, conditional on application or accumulation of income wholly to its objects; investment of funds only in forms permitted by the Act (with specified exceptions for voluntary contributions held as jewellery, furniture, etc.); exclusion of business income unless incidental and maintained in separate books; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a charitable organization 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 section 10(23C)(v) granted subject to exclusive application of income and specified investment, business and dissolution conditions.
Notification grants tax exemption under section 10(23C)(v) to the Nanded Sikh Gurudwara for assessment years 2000-2001 to 2002-2003, conditional on application or accumulation of income wholly to its objects; investment of funds only in forms permitted by the Act (with specified exceptions for voluntary contributions held as jewellery, furniture, etc.); exclusion of business income unless incidental and maintained in separate books; regular filing of income-tax returns; and transfer of surplus and assets on dissolution to a charitable organization with similar objectives.
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