Tax exemption under section 10(23C)(v) extends charitable status to Shri Chitrapur Math subject to specified compliance conditions. Charitable exemption under section 10(23C)(v) is conferred on Shri Chitrapur Math, Bangalore for assessment years 2002-03 to 2004-05 on conditions that income be applied or accumulated wholly and exclusively for its objects; investments and deposits be limited to permitted forms; business income is excluded unless incidental and separately accounted; the assessee files returns regularly; and on dissolution surplus assets pass to a like charitable organisation.
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 under section 10(23C)(v) extends charitable status to Shri Chitrapur Math subject to specified compliance conditions.
Charitable exemption under section 10(23C)(v) is conferred on Shri Chitrapur Math, Bangalore for assessment years 2002-03 to 2004-05 on conditions that income be applied or accumulated wholly and exclusively for its objects; investments and deposits be limited to permitted forms; business income is excluded unless incidental and separately accounted; the assessee files returns regularly; and on dissolution surplus assets pass to a like charitable organisation.
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