Little Flower Education Society, C/o. Bikaner Boys School approved for the purpose of section 10(23C)(vi) - S.O. 1118(E) - Income Tax

Dated 15th March 2012 S.O. 1118(E) In exercise of the powers conferred by sub-clause (vi) 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, Jodhpur hereby approve Little Flower Education Society, C/o. Bikaner Boys School, Jaipur Road, Bikaner (Raj), for the purpose of the said section for the assessment year 2008-09 onwards, subject to the following conditions : 1. The assessee will apply its income, or accumulate for application wholly and exclusively to educational purpose only. The society shall have to adhere to its undertaking that the activities of the society shall be confined only to educational purpose. The Institute shall do no other activity except education. 2. 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 anyone or more of the forms or modes specified in sub-section (5) of section 11 ; 3. This order 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 account are maintained in respect of such business; 4. The assessee will regularly file its return of income before the income-tax authority in accordance with the provisions of the Income-tax Act, 1961 ; 5. That in the event of dissolution, its surplus and the assets will be given to a charitable organisation with similar objectives and no part of the same will go to any of the members of the Institution. 6. The approval will not apply in relation to anonymous donations in terms of the fifteenth proviso to section 10(23C) read with section 115BBC of the Act. 7. This notification will remain in force until it is withdrawn. [Ref. No. CCIT/ITO(Tech.)Ju/2011-12/4717]