The Central Government notifies the 'the Aero Club of India, New Delhi ' for the purpose of clause (23) of section 10 of the Income-tax Act. 1961 - 010/2002 - Income Tax Act, 1961
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Tax exemption notification for Aero Club of India under charitable income clause, subject to application and investment conditions. The Central Government notifies Aero Club of India for tax-exempt status for specified assessment years, conditional on exclusive application or accumulation of income for its objects under the modified accumulation rules; investments confined to statutory permitted forms; prohibition on distributing income to members except grants to affiliated bodies; and exclusion of business income unless incidental to objectives with separate accounting.
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 for Aero Club of India under charitable income clause, subject to application and investment conditions.
The Central Government notifies Aero Club of India for tax-exempt status for specified assessment years, conditional on exclusive application or accumulation of income for its objects under the modified accumulation rules; investments confined to statutory permitted forms; prohibition on distributing income to members except grants to affiliated bodies; and exclusion of business income unless incidental to objectives with separate accounting.
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