Eligible project extension under section 35AC preserves tax-deduction status for construction of school and hostel facilities. The Central Government, on the National Committee's recommendation under the Income-tax Rules, specifies the construction of a school building, hostel and residence quarters by Shri Apang Abhyudaya Mandal at Village Sola, Daskroi Taluk, District Ahmedabad as an eligible project or scheme under section 35AC for a further three-year period beginning with assessment year 2002-2003, citing proper execution of the project and invoking powers under sub-section (1) read with the Explanation to section 35AC.
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Provisions expressly mentioned in the judgment/order text.
Eligible project extension under section 35AC preserves tax-deduction status for construction of school and hostel facilities.
The Central Government, on the National Committee's recommendation under the Income-tax Rules, specifies the construction of a school building, hostel and residence quarters by Shri Apang Abhyudaya Mandal at Village Sola, Daskroi Taluk, District Ahmedabad as an eligible project or scheme under section 35AC for a further three-year period beginning with assessment year 2002-2003, citing proper execution of the project and invoking powers under sub-section (1) read with the Explanation to section 35AC.
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