Deduction under section 35CCC: notified agricultural extension projects qualify for expense deduction subject to audit and compliance. Approval under section 35CCC permits deduction for M/s Marico Limited's Safflower Agricultural Extension Project subject to conditions: separate project books audited with auditor's comments on genuineness and compliance; submission of audited accounts, project note and Ministry of Agriculture certificate to tax authorities by return due date; eligible deduction limited to non-salary and non-land/building expenses not reimbursed or charged to beneficiaries; prohibition on beneficiary charges, branding, and deriving indirect benefits; and withdrawal of approval for cessation, non-genuineness or non-compliance.
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Provisions expressly mentioned in the judgment/order text.
Deduction under section 35CCC: notified agricultural extension projects qualify for expense deduction subject to audit and compliance.
Approval under section 35CCC permits deduction for M/s Marico Limited's Safflower Agricultural Extension Project subject to conditions: separate project books audited with auditor's comments on genuineness and compliance; submission of audited accounts, project note and Ministry of Agriculture certificate to tax authorities by return due date; eligible deduction limited to non-salary and non-land/building expenses not reimbursed or charged to beneficiaries; prohibition on beneficiary charges, branding, and deriving indirect benefits; and withdrawal of approval for cessation, non-genuineness or non-compliance.
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