The Central Government notified the 'U.P. Cricket Association, Kanpur' under clause (23) of section 10 of the Income-tax Act. 1961 - 181/2002 - Income Tax Act, 1961
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Tax exemption notification grants conditional exemption to a cricket association subject to application, investment and business restrictions. Notification grants conditional tax-exempt status to U.P. Cricket Association, Kanpur for specified assessment years, requiring application or accumulation of income exclusively to its objects per Section 11 as modified; investments and deposits must be in permitted forms, voluntary contributions may be held in notified tangible forms, income distribution to members is prohibited except as grants to affiliated bodies, and exemption excludes business profits unless incidental and recorded in separate books.
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 notification grants conditional exemption to a cricket association subject to application, investment and business restrictions.
Notification grants conditional tax-exempt status to U.P. Cricket Association, Kanpur for specified assessment years, requiring application or accumulation of income exclusively to its objects per Section 11 as modified; investments and deposits must be in permitted forms, voluntary contributions may be held in notified tangible forms, income distribution to members is prohibited except as grants to affiliated bodies, and exemption excludes business profits unless incidental and recorded in separate books.
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