The Central Government notifies the 'Goods Transport Labour Board, Mumbai' for the purpose of clause (23C) (iv) of section 10 of the Income-tax Act. 1961 - 222/2003 - Income Tax Act, 1961
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Tax exemption notification requires exclusive application of income and specified investment, accounting, filing, and dissolution conditions. Notification designates Goods Transport Labour Board, Mumbai as eligible for tax exemption under the specified clause of the Income-tax Act for designated assessment years, conditioned on wholly and exclusively applying or accumulating income for its objects; restricting investments to modes permitted by the Act (with limited exceptions for voluntary contributions held as movable items); excluding business profits unless incidental and separately accounted; regular filing of income-tax returns; and on dissolution transferring surplus assets to a charitable organization 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 notification requires exclusive application of income and specified investment, accounting, filing, and dissolution conditions.
Notification designates Goods Transport Labour Board, Mumbai as eligible for tax exemption under the specified clause of the Income-tax Act for designated assessment years, conditioned on wholly and exclusively applying or accumulating income for its objects; restricting investments to modes permitted by the Act (with limited exceptions for voluntary contributions held as movable items); excluding business profits unless incidental and separately accounted; regular filing of income-tax returns; and on dissolution transferring surplus assets to a charitable organization with similar objectives.
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