Tax exemption notification grants conditional tax-exempt status to a labour board subject to application, investment and reporting conditions. Notification under Section 10(23C)(iv) notifies The Railway Goods Clearing & Forwarding Establishment Labour Board, Mumbai as eligible for tax-exempt status for assessment years 1993-1994 to 1995-1996, subject to conditions: apply income wholly and exclusively to objects; restrict investments to forms in section 11(5) (except specified voluntary contributions); exclude business income unless incidental and separately accounted; regularly file income-tax returns; and on dissolution transfer surplus and assets to a charitable organisation 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 conditional tax-exempt status to a labour board subject to application, investment and reporting conditions.
Notification under Section 10(23C)(iv) notifies The Railway Goods Clearing & Forwarding Establishment Labour Board, Mumbai as eligible for tax-exempt status for assessment years 1993-1994 to 1995-1996, subject to conditions: apply income wholly and exclusively to objects; restrict investments to forms in section 11(5) (except specified voluntary contributions); exclude business income unless incidental and separately accounted; regularly file income-tax returns; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.
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