The Central Government notifies the 'Foundation for Universal Responsibility of His Holiness The Dalai Lama, New Delhi' under clause (23C)(v) of section 10 of the Income-tax Act, 1961 - 274/2002 - Income Tax Act, 1961
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Tax exemption granted to Foundation for Universal Responsibility, subject to conditions on application of income, investments, and dissolution. Notification grants tax-exempt status to the Foundation for Universal Responsibility for assessment years 1991-92 and 1992-93 subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments to modes specified for charitable trusts; exclude business income unless incidental with separate books; regularly file income-tax returns; and on dissolution transfer 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 granted to Foundation for Universal Responsibility, subject to conditions on application of income, investments, and dissolution.
Notification grants tax-exempt status to the Foundation for Universal Responsibility for assessment years 1991-92 and 1992-93 subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments to modes specified for charitable trusts; exclude business income unless incidental with separate books; regularly file income-tax returns; and on dissolution transfer surplus assets to a charitable organization with similar objectives.
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