Agricultural extension project deduction approved subject to strict audit, separate accounts, no beneficiary charges and compliance requirements. Approval under section 35CCC for the Animal Feed Extension Project allows deduction of expenses wholly and exclusively incurred (excluding land or building) subject to maintenance of separate books of account, an auditor's report confirming genuineness and compliance, and exclusion of reimbursed or reimbursable expenditure. Beneficiaries must not be charged, training must be product-neutral, and the assessee must file audited accounts, a project note with financial allocation, and a Ministry of Agriculture certificate by the return due date. Approval may be withdrawn for cessation, lack of genuineness, or non-compliance.
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Provisions expressly mentioned in the judgment/order text.
Agricultural extension project deduction approved subject to strict audit, separate accounts, no beneficiary charges and compliance requirements.
Approval under section 35CCC for the Animal Feed Extension Project allows deduction of expenses wholly and exclusively incurred (excluding land or building) subject to maintenance of separate books of account, an auditor's report confirming genuineness and compliance, and exclusion of reimbursed or reimbursable expenditure. Beneficiaries must not be charged, training must be product-neutral, and the assessee must file audited accounts, a project note with financial allocation, and a Ministry of Agriculture certificate by the return due date. Approval may be withdrawn for cessation, lack of genuineness, or non-compliance.
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