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The Central Government notifies the 'Sri Aurobindo Society, Kolkata' for the purpose of clause (23C)(iv) of section 10 of the Income-tax Act, 1961 - 242/2003 - Income Tax Act, 1961
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Tax exemption under section 10(23C)(iv) granted conditionally, requiring exclusive application, permitted investments, separate business accounts, returns and asset transfer. The Central Government notifies Sri Aurobindo Society, Kolkata, for conditional tax-exempt status under section 10 clause (23C)(iv) for the specified assessment years, subject to conditions: exclusive application or accumulation of income for its objects; investments limited to modes permitted by Section 11(5) (except certain voluntary contributions retained in kind); business income excluded unless incidental and maintained in separate books; regular filing of income-tax returns; and transfer of surplus and assets to a like charitable organisation upon dissolution.
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)(iv) granted conditionally, requiring exclusive application, permitted investments, separate business accounts, returns and asset transfer.
The Central Government notifies Sri Aurobindo Society, Kolkata, for conditional tax-exempt status under section 10 clause (23C)(iv) for the specified assessment years, subject to conditions: exclusive application or accumulation of income for its objects; investments limited to modes permitted by Section 11(5) (except certain voluntary contributions retained in kind); business income excluded unless incidental and maintained in separate books; regular filing of income-tax returns; and transfer of surplus and assets to a like charitable organisation upon dissolution.
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