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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Franciscan Missionaries of Mary Institute Gains Tax Exemption for 1993-96 Under Section 10(23C)(v) of Income-tax Act</h1> The Central Government has notified 'The Institute of the Franciscan Missionaries of Mary, Society No. 12, Nilgiris, Tamil Nadu' under clause (23C)(v) of section 10 of the Income-tax Act, 1961, for the assessment years 1993-94 to 1995-96. The notification imposes conditions: the institute must apply its income exclusively to its objectives, not invest funds contrary to specified modes, maintain separate accounts for incidental business income, file regular tax returns, and ensure surplus assets are transferred to a similar charitable organization upon dissolution.