Section 35AC amendment increases the deductible project cost cap for a designated rehabilitation scheme following committee recommendation. Amendment under Section 35AC increases the maximum allowable project cost for the Udavum Karangal rehabilitation project, substituting a higher cost figure in the original notification that had designated the scheme as eligible for deduction. The change follows the National Committee's recommendation under rule 11M based on satisfactory execution and formally updates the Table entry for the eligible project to alter the cap on deduction under the Income-tax provision.
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Provisions expressly mentioned in the judgment/order text.
Section 35AC amendment increases the deductible project cost cap for a designated rehabilitation scheme following committee recommendation.
Amendment under Section 35AC increases the maximum allowable project cost for the Udavum Karangal rehabilitation project, substituting a higher cost figure in the original notification that had designated the scheme as eligible for deduction. The change follows the National Committee's recommendation under rule 11M based on satisfactory execution and formally updates the Table entry for the eligible project to alter the cap on deduction under the Income-tax provision.
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