Tax recognition under section 10(23C)(v) confers notified trust status and tax-exemption from the specified assessment year. Notification confers recognition under Section 10(23C)(v) of the Income-tax Act on The India Bible Society Trust Association, Bangalore, with the Central Government exercising its clause (v) power to notify the trust and specifying commencement of that recognition from the appointed assessment year, thereby aligning the entity with the statutory exemption regime for notified institutions.
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Provisions expressly mentioned in the judgment/order text.
Tax recognition under section 10(23C)(v) confers notified trust status and tax-exemption from the specified assessment year.
Notification confers recognition under Section 10(23C)(v) of the Income-tax Act on The India Bible Society Trust Association, Bangalore, with the Central Government exercising its clause (v) power to notify the trust and specifying commencement of that recognition from the appointed assessment year, thereby aligning the entity with the statutory exemption regime for notified institutions.
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