Approved "Tilonia Shodh Evam - Vikas Sansthan, Kishangarh (Rajasthan)" u/s 10(23C)(vi)

OFFICE OF THE CHIEF COMMISSIONER OF INCOME-TAX

Udaipur, the 29th January, 2009

No. 09/2008-09

(INCOME-TAX)

S.O. 741.- In exercise of the powers conferred by sub-Section (IV) of clause (23C) of Section 10 of the Income-tax Act 1961 (43 of 1961) read with rule 2CA of the Income Tax Rules, 1962, I, the Chief Commissioner of Income Tax Udaipur hereby notify the "Tilonia Shodh Evam - Vikas Sansthan, Kishangarh (Rajasthan)" for the purpose of the said Sub-clause for the assessment years 2007-08 and onwards subject to the following conditions namely:-

(i) The assessee will apply its income, or accumulate for application wholly and exclusively to the objects for which it is established;

(ii) The assessee will not invest or deposit its funds (other than voluntary contribution received and maintained in the form of jewellery, furniture etc.) for any period during the previous years relevant to the assessment years mentioned above otherwise than in any one or more of the forms or modes specified in sub-section (5) of Section 11;

(iii) This notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business; (iv) The assessee will regularly file its return of income before the income-tax authority in accordance, with the provisions of Income-tax Act, 1961;

(v) That in the event of dissolution, its surplus and the assets will be given to a charitable organization with similar objectives;

This notification is applicable only to the recipients of income on behalf of the assessee and not to any other receipt or income of such recipients. Taxability or, otherwise of the income of the assessee would be separately considered as per the provisions of Income Tax Act, 1961.

[No. CCIT/UDR/ITO (Tech.)/2008/09/3122]

MUKESH BHANTI, Chief Commissioner of Income-tax

(Department of Revenue)