Tax deduction eligibility under section 35AC: government lists approved institutions, projects and capped deductible costs for assessment years. Notification approves specified institutions and their listed projects for deduction under the income tax provision, states the maximum portion of estimated project cost allowable as a deduction (including where designated as corpus fund), and prescribes the assessment year periods during which those approvals and deductible caps apply.
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Provisions expressly mentioned in the judgment/order text.
Tax deduction eligibility under section 35AC: government lists approved institutions, projects and capped deductible costs for assessment years.
Notification approves specified institutions and their listed projects for deduction under the income tax provision, states the maximum portion of estimated project cost allowable as a deduction (including where designated as corpus fund), and prescribes the assessment year periods during which those approvals and deductible caps apply.
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