The Central Government notifies the 'AITA Trust, New Delhi' for the purpose of clause (23) of section 10 of the Income-tax Act. 1961 - 092/2003 - Income Tax Act, 1961
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Tax exemption recognition under clause 23: AITA Trust notified subject to conditions on accumulation, investment, distribution, and business income. Notification under clause (23) of section 10 recognizes AITA Trust, New Delhi subject to conditions: the trust must apply or accumulate income per the modified section 11 wholly and exclusively to its objects; investments or deposits are restricted to forms specified in subsection (5) of section 11; income must not be distributed to members except as grants to affiliated institutions; and business profits are excluded unless incidental to objectives with separate books maintained.
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 recognition under clause 23: AITA Trust notified subject to conditions on accumulation, investment, distribution, and business income.
Notification under clause (23) of section 10 recognizes AITA Trust, New Delhi subject to conditions: the trust must apply or accumulate income per the modified section 11 wholly and exclusively to its objects; investments or deposits are restricted to forms specified in subsection (5) of section 11; income must not be distributed to members except as grants to affiliated institutions; and business profits are excluded unless incidental to objectives with separate books maintained.
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