National Bank for Agriculture and Rural Development established under section 3 of the National Bank for Agriculture and Rural Development Act, 1981 approved for the purpose of section 36(1)(xii) - 25/2014 - Income Tax Act, 1961
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Deductibility under section 36(1)(xii): NABARD's expenditures qualify for deduction subject to specified non capitality and accounting conditions. Notification designates NABARD as eligible for deduction under section 36(1)(xii) of the Income tax Act, subject to conditions: expenditure must be for objects authorised by the NABARD Act (per its section 38), must not be capital expenditure, must not be deductible under any other provision, and a separate account must be maintained for such expenditure.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deductibility under section 36(1)(xii): NABARD's expenditures qualify for deduction subject to specified non capitality and accounting conditions.
Notification designates NABARD as eligible for deduction under section 36(1)(xii) of the Income tax Act, subject to conditions: expenditure must be for objects authorised by the NABARD Act (per its section 38), must not be capital expenditure, must not be deductible under any other provision, and a separate account must be maintained for such expenditure.
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