Notify the "Bal Vidya Prasarak Mandal Near CBS, old Agra Road, Nashik" u/s 10(23C)(vi) - S.O. 1875 - Income Tax

Notify the "Bal Vidya Prasarak Mandal Near CBS, old Agra Road , Nashik" u/s 10(23C)(vi) OFFICE OF THE CHIEF COMMISSIONER OF INCOME TAX Nashik, the 22nd June, 2009 Notification under Section 10(23C)(vi) of the Income Tax Act, 1961 S.O. 1875. - In exercise of the powers conferred on me by sub-clause (vi) of clause (23C) of the Section 10 of Income Tax Act, 1961 read with rule 2CA of the IT Rule, 1962 , I Chief Commissioner of Income-tax, Nashik hereby accord approval to " BAL VIDYA PRASARAK MANDAL , Near CBS, old Agra Road, Nashik-422002" for the purposes of the said section from A.Y.2009-10 onwards, subject to the conditions mentioned hereunder : 1. The assessee will apply its income, or accumulate for application, wholly and exclusively to the objects for which it is established. 2. The assessee will not invest or deposit its fund (other than voluntary contributions received and maintained in the form of jewellery furniture etc.) otherwise than in any one or more of the forms or modes specified in sub-section (5) of section11 . 3. This Notification will not apply in relation to any income being profits and gain of business, unless the business is incidential to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business. 4. The assessee will regularly file its return of income alongwith audit report as per tenth proviso to sec. 10(23C) before the Income-tax authority in accordance with the provision of the I.T. Act, 1961 . 5. In the event of dissolution, its surplus assets will be given to an organization with similar objectives and no part of the same will go to any of the members of the institution. 6. The approval granted shall be subject to the provision of proviso to Section 143(3) of the Act. 7. The approval granted may be withdrawn (1 in further as per provisions of 13th proviso to Section 10(23C). 10(23C)(vi) 8. The above approval is given only for the purpose of Section 10(23C)(via) of the I.T. Act, 1961 and not for any other purposes. 9. The approval shall be void if it is subsequently found that it has been obtained by fraud or misappropriation of facts. 10. This approval shall not apply in relation to any income from any activity in the nature of trade, commerce or business or rendering of any service in relation to trade, commerce or business irrespective of the nature of use or application or retention of income from such activity. 11. The approval shall not apply in relation to anonymous donations in terms of the fifteenth proviso to Sec.10(23C) r.w.s. 115BBC of the I.T. Act. [No. NSK/CCIT/10(23C)(vi)/2009-10/934] (Sd/-) V.K. SHRIDHAR, Chief Commissioner of Income Tax