Section 35AC deduction limit revised for a charitable institution, increasing the allowable capital cost deduction. Amendment to the Explanation to Section 35AC revises the maximum amount of cost allowed as deduction for Maria Seva Sangha, Bangalore by substituting the previously specified figure in the Table of S.O. 469(E) dated 2 July 1996 with a higher specified amount, on the recommendation of the National Committee and by notification dated 27 March 1997.
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Provisions expressly mentioned in the judgment/order text.
Section 35AC deduction limit revised for a charitable institution, increasing the allowable capital cost deduction.
Amendment to the Explanation to Section 35AC revises the maximum amount of cost allowed as deduction for Maria Seva Sangha, Bangalore by substituting the previously specified figure in the Table of S.O. 469(E) dated 2 July 1996 with a higher specified amount, on the recommendation of the National Committee and by notification dated 27 March 1997.
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