Section 35AC extension of eligible project status permits continued deduction for specified reconstruction project but denies certificate for lapsed year. Notification designates the 'Reconstruction and Development of School & Hostel Building' by Gram Nirman Kelavani Mandal as an eligible project for a further three-year period, directs that no certificate under the relevant tax provision will be issued for the already lapsed first year of that extended period, and amends the earlier notification to substitute the previously specified maximum admissible project cost with an increased estimated cost governing the amount allowable as a deduction.
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.
Section 35AC extension of eligible project status permits continued deduction for specified reconstruction project but denies certificate for lapsed year.
Notification designates the "Reconstruction and Development of School & Hostel Building" by Gram Nirman Kelavani Mandal as an eligible project for a further three-year period, directs that no certificate under the relevant tax provision will be issued for the already lapsed first year of that extended period, and amends the earlier notification to substitute the previously specified maximum admissible project cost with an increased estimated cost governing the amount allowable as a deduction.
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