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of <h1>AITA Trust in New Delhi notified under Section 10(23) for tax exemption, subject to strict income application and investment rules.</h1> The Central Government has notified the 'AITA Trust, New Delhi' under clause (23) of section 10 of the Income-tax Act, 1961, for the assessment years 2001-2002 to 2002-2003. The notification stipulates that the trust must apply or accumulate its income exclusively for its established objectives, adhere to specific investment restrictions, refrain from distributing income to members except as grants to affiliated associations or institutions, and ensure that any business income is incidental to its objectives with separate accounts maintained. This notification does not apply to business profits unless these conditions are met.
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