https://www.taxtmi.com/forum/issue?id=1186 Exemption under the proviso to section 10(23C) excludes profits and gains of business unless the business is incidental to the institution's objectives and separate books of account are maintained in respect of such business; therefore the institution must establish the nature and purpose of each commercial activity and maintain separate accounting to claim exemption. en-us Mon, 18 May 2009 11:50:49 +0530 Thu, 23 Jan 2025 15:58:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1186 Exemption under the proviso to section 10(23C) excludes profits and gains of business unless the business is incidental to the institution's objectives and separate books of account are maintained in respect of such business; therefore the institution must establish the nature and purpose of each commercial activity and maintain separate accounting to claim exemption. Discussion-Forum Income Tax Mon, 18 May 2009 11:50:49 +0530 https://www.taxtmi.com/forum/issue?id=1186