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The Central Government notifies 'Srimad Utiayini Saddharam Simhasana Sri Taralabalu Jagadguru Brihnmath Sirigere, Karnataka' under clause (23C)(v) of section 10 of the Income-tax Act, 1961 - 048/2002 - Income Tax Act, 1961
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Tax exemption under section 10(23C)(v) conditions institutional recognition on application of income, investment limits, filing, and dissolution rules. Notification under section 10(23C)(v) recognizes the named institution as eligible for exemption for specified assessment years provided it applies or accumulates income exclusively to its objects, confines investments to permitted forms, treats business income as incidental only if separately accounted, files returns regularly, and on dissolution transfers surplus and assets to a similar charitable organization.
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)(v) conditions institutional recognition on application of income, investment limits, filing, and dissolution rules.
Notification under section 10(23C)(v) recognizes the named institution as eligible for exemption for specified assessment years provided it applies or accumulates income exclusively to its objects, confines investments to permitted forms, treats business income as incidental only if separately accounted, files returns regularly, and on dissolution transfers surplus and assets to a similar charitable organization.
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