Tax exemption approval conditioned on exclusive application of income and compliance with investment, accounting, and dissolution rules. Notification grants statutory tax-exemption approval to Indian Women Scientist Association, Vashi, Navi Mumbai, for specified assessment years subject to conditions: apply or accumulate income exclusively to its objects; restrict investments to permissible forms for charitable trusts; treat business income as excluded unless incidental and separately accounted; file income-tax returns as required; and on dissolution transfer surplus 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 approval conditioned on exclusive application of income and compliance with investment, accounting, and dissolution rules.
Notification grants statutory tax-exemption approval to Indian Women Scientist Association, Vashi, Navi Mumbai, for specified assessment years subject to conditions: apply or accumulate income exclusively to its objects; restrict investments to permissible forms for charitable trusts; treat business income as excluded unless incidental and separately accounted; file income-tax returns as required; and on dissolution transfer surplus assets to a charitable organisation with similar objectives.
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