https://www.taxtmi.com/notifications?id=7514 The Central Government notified the Petroleum Sports Control Board for tax exemption purposes under clause (23) of section 10 for assessment year 2002-2003, subject to conditions: the Board must apply or accumulate income solely for its objects in accordance with the modified rules; refrain from investing or depositing funds except in permitted forms (with limited tangible-form exception for certain voluntary contributions); not distribute income to members except as grants to affiliated institutions; and exclude business profits unless the business is incidental and maintained in separate accounts. en-us Fri, 31 May 2002 00:00:00 +0530 Fri, 18 Jul 2008 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=7514 The Central Government notified the Petroleum Sports Control Board for tax exemption purposes under clause (23) of section 10 for assessment year 2002-2003, subject to conditions: the Board must apply or accumulate income solely for its objects in accordance with the modified rules; refrain from investing or depositing funds except in permitted forms (with limited tangible-form exception for certain voluntary contributions); not distribute income to members except as grants to affiliated institutions; and exclude business profits unless the business is incidental and maintained in separate accounts. Notifications Income Tax Fri, 31 May 2002 00:00:00 +0530 https://www.taxtmi.com/notifications?id=7514