Deduction under section 35AC: approved institutions and specified projects eligible for prescribed project cost deductions. The Central Government, on the National Committee's recommendation, approves named institutions and specifies eligible projects, estimated costs and the maximum portion of those costs allowable as deductions under section 35AC; the notification also prescribes assessment year validity periods (one, two or three years) for specified serial numbers, thereby conditioning deduction availability on both institutional/project approval and the prescribed time window.
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.
Deduction under section 35AC: approved institutions and specified projects eligible for prescribed project cost deductions.
The Central Government, on the National Committee's recommendation, approves named institutions and specifies eligible projects, estimated costs and the maximum portion of those costs allowable as deductions under section 35AC; the notification also prescribes assessment year validity periods (one, two or three years) for specified serial numbers, thereby conditioning deduction availability on both institutional/project approval and the prescribed time window.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
