The Central Government notifies the 'Bombay Humanitarian League, Mumbai' for the purpose of clause (23C)(iv) of section 10 of the Income-tax Act, 1961 - 343/2002 - Income Tax Act, 1961
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Notification recognizing tax-exempt status for Bombay Humanitarian League subject to specified compliance conditions for assessment years under income tax law. Notification under clause (23C)(iv) recognizes Bombay Humanitarian League, Mumbai as entitled to specified tax treatment for stated assessment years, subject to conditions: exclusive application or accumulation of income to its objects; investments limited to permitted modes except certain in-kind voluntary contributions; exclusion of business income unless incidental and maintained in separate books; regular filing of income-tax returns; and, on dissolution, transfer of surplus and 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.
Notification recognizing tax-exempt status for Bombay Humanitarian League subject to specified compliance conditions for assessment years under income tax law.
Notification under clause (23C)(iv) recognizes Bombay Humanitarian League, Mumbai as entitled to specified tax treatment for stated assessment years, subject to conditions: exclusive application or accumulation of income to its objects; investments limited to permitted modes except certain in-kind voluntary contributions; exclusion of business income unless incidental and maintained in separate books; regular filing of income-tax returns; and, on dissolution, transfer of surplus and assets to a charitable organization with similar objectives.
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