Tax exemption under section 10(23) granted subject to exclusive application of income, investment limits, and dissolution transfer conditions. Notification grants tax exemption to the Sports Authority of India for specified assessment years provided it applies or accumulates income exclusively to its objects, limits investments to permitted modes, treats business income as exempt only if incidental with separate accounts, files returns regularly, and on dissolution transfers 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 under section 10(23) granted subject to exclusive application of income, investment limits, and dissolution transfer conditions.
Notification grants tax exemption to the Sports Authority of India for specified assessment years provided it applies or accumulates income exclusively to its objects, limits investments to permitted modes, treats business income as exempt only if incidental with separate accounts, files returns regularly, and on dissolution transfers surplus and assets to a charitable organisation with similar objectives.
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