The Central Government notified the 'Shree Jain Swetamber Bhandnr Tirth. Pawa Puri, Bihar' under clause (23C)(v) of section 10 of the Income-tax Act, 1961 - 165/2002 - Income Tax Act, 1961
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Charitable exemption recognition: status granted subject to exclusive application of income, permitted investments, business segregation, filing and dissolution conditions. Notification granting recognition under clause (23C)(v) of section 10 conditions the institution's tax-exempt status on applying income wholly and exclusively to its objects; restricting investments and deposits to modes permitted by law; treating business income as exempt only if incidental and recorded in separate books; regular filing of income-tax returns; and transferring surplus and assets on dissolution to a charitable organisation 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.
Charitable exemption recognition: status granted subject to exclusive application of income, permitted investments, business segregation, filing and dissolution conditions.
Notification granting recognition under clause (23C)(v) of section 10 conditions the institution's tax-exempt status on applying income wholly and exclusively to its objects; restricting investments and deposits to modes permitted by law; treating business income as exempt only if incidental and recorded in separate books; regular filing of income-tax returns; and transferring surplus and assets on dissolution to a charitable organisation with similar objectives.
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