The Central Government notifies the 'Grocery Markets & Shops Board, Mumbai' for the purpose of clause (23C) (iv) of section 10 of the Income-tax Act. 1961 - 272/2003 - Income Tax Act, 1961
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Tax exemption notification grants section 10(23C)(iv) recognition to an entity subject to strict compliance conditions. Notification grants Tax exemption recognition under section 10(23C)(iv) to the Grocery Markets & Shops Board for specified assessment years, conditional on exclusive application or accumulation of income for its objects, investment of funds only in forms permitted by Section 11(5) (with limited exceptions for in-kind voluntary contributions), incidental-business treatment with separate books, regular filing of income-tax returns, and transfer of surplus and assets on dissolution to a charitable body 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 notification grants section 10(23C)(iv) recognition to an entity subject to strict compliance conditions.
Notification grants Tax exemption recognition under section 10(23C)(iv) to the Grocery Markets & Shops Board for specified assessment years, conditional on exclusive application or accumulation of income for its objects, investment of funds only in forms permitted by Section 11(5) (with limited exceptions for in-kind voluntary contributions), incidental-business treatment with separate books, regular filing of income-tax returns, and transfer of surplus and assets on dissolution to a charitable body with similar objectives.
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