Tax exemption recognition under section ten twenty three C subject to conditions on income application, investments, business, returns, and dissolution. Notification under the relevant sub-clause of section 10 notifies the Asian Institute of Transport Development as eligible subject to conditions: apply or accumulate income solely to its objects; restrict investments to modes specified in the Act governing application of income; exclude business profits unless incidental with separate books; regularly file income tax returns; and transfer surplus assets on dissolution to a charitable organisation with similar objectives.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption recognition under section ten twenty three C subject to conditions on income application, investments, business, returns, and dissolution.
Notification under the relevant sub-clause of section 10 notifies the Asian Institute of Transport Development as eligible subject to conditions: apply or accumulate income solely to its objects; restrict investments to modes specified in the Act governing application of income; exclude business profits unless incidental with separate books; regularly file income tax returns; and transfer surplus assets on dissolution to a charitable organisation with similar objectives.
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